Argentina eyes up to USD1bn in dollar-linked local bonds
NEW YORK, Oct 20 (IFR) - Argentina said it intends to issue up to USD1bn in dollar-linked bonds in the domestic markets, with the first offering set for later this week.
The bond will be sold via Dutch auction on the local electronic securities exchange, the Mercado Abierto Electronico (MAE).
For the first auction scheduled for Thursday, the government has set a minimum size of USD500m on the two-year bond that will carry an annual coupon of 1.75%.
The new instrument will be denominated in US dollars but payable in pesos.
Argentina defaulted on its international debt in July amid a long-running legal battle with creditors who refused to acept the terms of the country's previous debt restructuring.
It has been effectively locked out of the international debt markets since then. (Reporting by Paul Kilby; Editing by Marc Carnegie)
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