Bankers Push Buenos Aires Bond After Rally: Argentina Credit

When Buenos Aires sold $475 million of bonds in March, city public credit director Abel Fernandez struggled to find investment bankers interested in managing the deal. After a nine-month rally that made Argentine debt the biggest gainer in emerging markets last year, bankers are lining up to arrange the city’s new offering, he said.

Buenos Aires has proposals from at least 10 banks for the 10-year bonds it plans to sell by April, fostering competition that will drive down borrowing costs, Fernandez said.