BUENOS AIRES, Dec 12 (Reuters) - Economy Minister Axel Kiciloff said on Friday Argentina had received offers worth just $286 million in its first dollar-denominated debt sale since it defaulted in July, far below the $3 billion of Bonar24 paper offered by the government.
Kicillof also said investors holding $377 million dollars worth of Boden15 notes due next year had opted to swap out their bonds for the Bonar24 paper maturing in 2024.
The outstanding amount of Boden15 bonds is $5.94 billion. Interest would take the payout to $6.7 billion in Oct. 3 when the bond matures.
The results of the new issuance and bond swap will come as a blow to the administration of leftist President Cristina Fernandez, which economists said had been looking to ease its debt schedule next year and bolster its low foreign reserves. (Reporting by Richard Lough and Sarah Marsh; Editing by Meredith Mazzilli)