Argentina: The finance ministry has announced that it has successfully placed US$2.15bn in bonds in national and international markets. A ministerial statement said that US$1.63bn had been placed in dual currency bonds (which are US dollar denominated but pay coupons in Argentine pesos) maturing in 2020 and offering a monthly yield of 2.35%, and a second tranche of US$514m in US dollar denominated bonds maturing in 210 and 378 days at an annual yield of 4%-5.50%. This is first time that the government led by President Mauricio Macri has resorted to issuing dual currency bonds to raise funds, in a bid to attract more investors at a time when Argentina is experiencing economic difficulties following the recent run on the peso.
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