January 15, 2016
Argentina, it seems, is on the precipice of change. The Mauricio Macri-led Cambiemos coalition won the presidential elections in November and has promised an open market economy with less capital controls and a floating Argentine peso.
Capital markets deals hit the screens merely hours after Macri made his victory speech. Pampa Energía priced an equity follow-on offering, raising about $86 million in late November. Pan American Energy issued 1 billion peso ($102.3 million) 2020 bond, while state-run oil producer YPF tapped the market twice in December, selling a 1.4 billion peso 2028 bond and reopening its 2018 notes, ultimately adding $100 million to the issuance.
While the boon to equity a
An Argentine acquisition illustrates the impact of the country’s changing political landscape for corporates looking to capture growth