Argentina to sell 3 bln worth of peso debt in local market

lunes 13 de abril de 2015 14:39 GYT
 

BUENOS AIRES, April 13 (Reuters) - Argentina will receive offers this week for 3 billion pesos' ($338.70 million) worth of reopened short-term debt maturing in March and September 2016, the Ministry of Economy said on Monday.

The "Bonac" (bonds of the national treasury) come in two series, with coupons payable each quarter and tracking the interest rate of the central bank's benchmark three-month notes.

Argentina raised 5 billion pesos in an oversubscribed sale of the two series on March 27. It had sought on that occasion to fetch 3 billion pesos and received bids worth 7.49 billion.

Recent twists in a long-running fight with investors in the U.S. courts over debt Argentina defaulted on in 2002 are making it nearly impossible for the South American country to tap global credit markets. Meanwhile, foreign reserves are low and inflation is rampant.

Offers must be received by Thursday and results will be announced on April 20, the ministry said. ($1 = 8.8575 pesos) (Reporting by Walter Bianchi; editing by Richard Lough and Matthew Lewis)