Goldman Loan Talk Propels Biggest Bond Advance: Argentina Credit
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Argentina’s effort to repair ties with overseas investors is starting to yield results in the bond market as the country tries to stem a plunge in foreign-currency reserves.
Its dollar-denominated notes surged by the most of any emerging market, adding to a 9.2 percent rally in March, after the government said it received loan proposals from international investment banks. The statement was in response to a newspaper report on March 30 that said Argentina is close to getting a two-year, $1 billion loan from Goldman Sachs Group Inc. at an interest rate of 6.5 percent, less than the nation’s similar-maturity bonds that yield 11.28 percent.