Argentina Raises $286 Million in First Bond Sale Since Default
This article is for subscribers only.
Argentina sold less than 10 percent of the bonds it was seeking to place in its first dollar-debt issuance since defaulting on overseas notes in July.
Investors bought $286 million of 10-year bonds governed by local laws, short of the as much as $3 billion being offered, Economy Minister Axel Kicillof told reporters in Buenos Aires today. Investors also agreed to swap $377 million of local-law bonds maturing next year for 2024 notes and sold back $185 million of the 2015 notes at 97 cents on the dollar, below the 97.1 cents per dollar the notes were trading at today.