La Rioja offers "juicy" yield in bond market debut

La Rioja offers "juicy" yield in bond market debut

Argentina Bonds

Argentina's La Rioja province printed a 9.75% $200m cross-border bond yesterday in line with initial price talk, offering investors yield of 10%.   Sole bookrunner UBS sold the bonds to investors over a 6.5-year average life, with the securities maturing in equal portions over the final four years of their maturity.  One investor dubbed the yields on offer as "juicy," attributing this to La Rioja's little exposure to international fixed income investors. He also said investors may have had their

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