Argentina Plans $11.7 Billion Bond Sale to Yield About 7.5%
- Country will issue 3 bonds with maturities of 5, 10, 30 years
- Argentina won't make blanket offer on expired bonds: Prat-Gay
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Argentina plans to mark its return to global capital markets in mid-April by issuing $11.68 billion of bonds to yield 7.5 to 8 percent, Finance Ministry officials told Congress while presenting a debt bill to clear the way for a settlement with most holdout creditors.
After reaching a milestone deal with the largest holdout creditors led by billionaire Paul Singer, Argentina must repeal debt laws that prevent it from reopening previous bond restructurings and paying bondholders abroad. U.S. District Judge Thomas Griesa said this week that he’ll lift an injunction blocking the country from paying foreign debt once Congress acts and the settlements are paid.