Argentina Launches Brady Buyback

Argentina Launches Brady Buyback

Bonds

Argentina has announced an exchange offer to holders of $263m and EUR54m in Brady Bonds, to manage external liabilities and cut the risk of legal claims from creditors. The amount is tiny next to the $12.1bn exchange it wrapped up in June, though a deal could be another step towards reestablishing credibility with international investors. “It’s positive, it’s not a huge event,” says Carola Sandy, economist at Credit Suisse. She adds that the sovereign may earn goodwill by including holders not i

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