Argentine Assets: Shiny on the Outside

Argentine Assets: Shiny on the Outside

Argentina Equity Bonds Economy & Policy M&A Corporate & Sovereign Strategy Structured Finance

by Jef Cozza If trading charts and FDI data are anything to go by, last year was Argentina’s annus mirabilis. By February 25, Argentina’s five-year CDS was at 662 basis points from 4,669 basis points in March 2009.  The dollar volume of M&A deals involving foreign acquirers of Argentine assets skyrocketed to $7.97 billion from just $2.00 billion the year before. Structured finance transactions reached close to 17.7 billion pesos in 2010, an 83% increase over 2009, according to Fitch. And secondary debt trading volume hit $102.6 billion in the third quarter of 2010, according to EMTA. This was the highest level since 2007, making Argentina the sixth most actively traded EM

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