Argentina to Issue New Debt

Argentina is to issue $2 billion in new 10-year dollar-denominated domestic bonds, with a first tranche of $1 billion to be launched on 21 September. The Boden 2015 will be the government’s third dollar-denominated issue since it defaulted on its sovereign debt in December 2001. The economy ministry hopes to pay no more than 8% interest, close to the 7.84% for the most recent Boden 2012. The government will use the issue to finance debt service – estimated at $3.87 billion – between now and year end.