January 5, 2018 |
Argentina completed its first transaction of 2018, printing $9bn across three sets of bonds, fulfilling part of the $30bn it needs for 2018, DCM sources said.
Citi, Deutsche Bank and HSBC set initial price talk on a $1.75bn 2023 portion in the high 4% area and started talk at 6.25% area for a $4.25bn 2028 tranche, DCM bankers said. A longer-dated $3bn 2048 note came out in the 7% area.
At guidance, leads tightened the 2023s to between 4.625% and 4.75%, while the 2028s were moved to the 6% area
Sovereign issuer prints $9bn across 2023, 2028 and 2048 bonds, leaves value on the table for the buyside, sources say