Bono Sur Launched

Bono Sur Launched

Argentina

Venezuela and Argentina have finally launched the much-heralded "Bono del Sur". In the end, it was not so much a jointly issued bond as three bonds grouped together. After much prior speculation regarding its structure, the details of the $1 billion issue as given by Venezuela's finance ministry seem to show little benefit for Argentina, said market commentators. The bond – which was issued in dollars in Venezuela – is made up of 50% newly issued Venezuelan TICCs (título de interés y capital cub

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