Argentina To Sell More Debt To Venezuela

Argentina is to sell another $242 million of its dollar-denominated paper to Venezuela. The sovereign will reopen its Boden 2012 issue to place the bonds directly with Chávez’s government in Caracas. Venezuela is the largest holder of Argentina’s debt: since the middle of last year it has bought a total of $3.24 billion. It last bought paper on June 9 when it acquired $200 million of the same Boden issue. Meanwhile, Argentina has postponed plans to sell the outstanding $500 million of its new Bonar V dollar paper.