UPDATE 2-Credit markets open to Argentina for first time in years -ministry

domingo 30 de marzo de 2014 19:31 GYT

(Recasts with government confirmation on offers)

BUENOS AIRES, March 30 (Reuters) - Argentina has been approached by financial institutions offering it loans at favorable rates, the economy ministry said on Sunday, marking a tentative reopening of international credit markets for the first time in over a decade.

The economy ministry issued a statement on Sunday, saying it had received offers of credit from abroad. It did not name the institutions.

"In recent weeks ... various financial institutions have presented proposals of access to external financing with repayment timetables and interest rates similar to those offered to other countries in the region," it said.

It would be the first time Argentina has received loans from international creditors since a massive default in 2002.

The offers followed Argentina's $5 billion settlement with Spain's Repsol over its expropriation of YPF and progress on talks to repay over the $9.5 billion Caracas owes the Paris Club creditor nations, said the ministry.

The statement followed an earlier report in local newspaper Pagina/12 that the government was closing in on a deal to receive around $1 billion in loans from investment bank Goldman Sachs and had been approached by other lenders.

The paper, which has close ties with the government of President Cristina Fernandez, said the two-year loan would be announced in the next few days and carry an annual interest rate of 6.5 percent.

Goldman Sachs declined to comment.   Continuación...