Argentina Beats Familiar Path

Argentina was reportedly beating a familiar path to Venezuela’s door to place directly another $200 million of its Boden 2012 dollar-denominated paper with its largest bondholder. Venezuela last bought Argentine sovereign paper in mid-May, when it purchased $239 million of Boden 2012. The recent market volatility appears to have put on hold Argentina’s plans to sell the outstanding $500 million of its new Bonar V dollar paper.