* Argentina’s economy ministry has announced the initial results of its first sale of peso-denominated bonds, issued under local law, since the conclusion last week of its
high-profile restructurings of local and international-law debt. The treasury raised Ar$84.56bn (US$1.13bn) in the first of three such sales scheduled for September, in what the economy ministry described as an attempt to continue with its
“normalisation agenda”, and with efforts to build a local debt market in Argentine pesos. In a report, local brokerage Portfolio Personal Inversiones (PPI) noted that Argentina is obliged to pay some Ar$202bn this September – 95% in short-term bonds, and 5% in interest payments on existing bonds. The treasury, PPI continued, will seek to pay this debt with the money raised through these local bond sales. The next bond issues are earmarked for 16 and 28 September. In a separate report, PPI noted that investor appetite for the initial sale was encouraging.
End of preview - This article contains approximately 157 words.
Subscribers: Log in now to read the full article
Not a Subscriber?
Choose from one of the following options