October 8, 2020 |
Argentina sold its first dollar-linked bonds in the local market on Tuesday, tapping strong demand for more stable currencies to raise $1.77 billion.
The deal was more than three times oversubscribed from the original offer of $500 million worth of notes, which allowed the sovereign issuer to pay just 0.1% over currency depreciation, less than the maximum of 0.25% it had set beforehand, the Economy Ministry said in a statement.
The new notes mature on November 30 next year, the ministry said. It
Government raises $1.77 bln by tapping local demand for hard currencies as peso depreciates