Argentina’s New Bonds Plunge Deep Into Distressed Territory
- Notes at pre-debt deal prices just 2 weeks after restructuring
- Bonds trade wider than peers, including Ecuador’s new notes
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Argentina’s new dollar bonds have plunged back into distressed territory just two weeks after the nation restructured almost $65 billion in debt.
The securities fell for the fourth consecutive day Monday to an average 39 cents on the dollar. The $16.1 billion in bonds maturing 2030 tumbled 3.1 cents to 40.3 cents, the lowest since they began trading on Sept. 8 at about 50 cents.