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(Adds details, investor quotes)
By Joy Wiltermuth
NEW YORK, April 7 (IFR) - The Republic of Argentina is set to begin a roadshow next week for its first international bond deal in 15 years, according to lead bankers on Thursday.
The country has hired Deutsche Bank, HSBC, JPMorgan and Santander to arrange meetings in London, New York, Boston and Washington.
Argentina has been expected to raise up to US$12bn to pay litigant investors and defaulted interest payments.
Expectations have been building since Argentina sealed an agreement with major holdout creditors led by Elliott Management in early March.
But bankers tapped to market the historic bond have been keeping details such as size and currencies close to the vest as they sound out potential appetite for the trade.
"The dealers on it are keeping it hush-hush until they are ready to come to market," said Sean Newman, a senior portfolio manager at Invesco Fixed Income who oversees emerging market and government bonds.
Local dealers have been whispering yields in the 7.5% range, one trader in New York told IFR.
But he said 8.5% on a 10-year bond was likely more feasible in the current market. (Reporting by Joy Wiltermuth; Editing by Marc Carnegie)