Arcor Leads Way For Argentine Credit

Arcor Leads Way For Argentine Credit

Argentina Bonds

Argentina’s Arcor has sold $200m in new bonds, tightening to a 7.25% yield on the back of $2bn in orders. The B1/B+ candy maker came in from 8.00% area talk and 7.50% area guidance, capitalizing on its reputation as one of Argentina’s top credits. The 2017 NC4 priced at par with a 7.25% coupon. It traded up 1.50-1.75 points Thursday afternoon, according to traders. “This is a great company, it has never defaulted and is in a relatively non-cyclical sector,” says a participating London-based EM i

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