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Argentina Returns to Global Debt Markets With Four-Year Dollar Bond to Tackle January Maturity

Officials say the sale is intended to cover part of a looming payment without using central-bank reserves.

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Overview

  • The Treasury will take offers on December 10 and settle on December 12 in dollar-only operations.
  • The Bonar 2029N is a four-year note under local law with a 6.50% coupon, semiannual payments, and maturity on November 30, 2029.
  • Officials say proceeds will help cover about $4.2 billion due on January 9 without drawing on the central bank’s dollars.
  • This is Argentina’s first foreign-currency bond issuance in international markets since 2018.
  • Reports indicate talks with banks for roughly $7 billion in additional financing, while gross reserves stand near $41.883 billion and analysts caution not all are readily usable.