Argentina Sells Bonar X To Yield 8.44%

Argentina managed to lower the yield on the second tranche of its Bonar X, dollar-denominated issue, selling $750m to yield 8.44%, just below the 8.46% it achieved in April. The government said demand for the 7% paper, due 2017, reached $1.86bn. The total Bonar X program for 2007 is $2.5bn.