Argentina Corporate Debt: Reapertura?

Argentina Corporate Debt: Reapertura?

People Corporate & Sovereign Strategy Argentina Bonds

by Ben MillerArgentine entities are back on the credit map with a whimper, not a bang. The sovereign limped closer to access by closing a $12.1 billion exchange with holdout investors in June, but provinces are already issuing without its support. "We were ready to issue even last year," Víctor Cisterna, economy minister of Argentina’s Chubut province says of the $150 million bond the government sold in July, backed by oil royalties. "I don’t think the federal government exchange helped us, nor did it hurt us."  Getting a majority of holdouts to agree to Argentina’s stingy swap terms was meant to end a decade of isolation from international borrowing and b

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