October 13, 2016 / 11:23 PM / 2 years ago

Argentina issues $5 billion in peso-denominated bonds

BUENOS AIRES, Oct 13 (Reuters) - Argentina issued $5 billion worth of bonds denominated in the local peso currency, with maturities in October 2023 and October 2026, the finance ministry said on Thursday.

The sale of so-called National Treasury Bonds included 53.6 billion pesos ($3.53 billion) in 10-year bonds with a 15.5 percent interest rate, and 22.8 billion pesos ($1.5 billion) in seven-year bonds yielding 16 percent.

The sale marked the first time in Argentine history that the country has issued a 10-year bond in pesos under local law, a ministry source said, adding that the “inverted curve” of the bonds’ yields showed the market expected inflation to decelerate.

Last week, Argentina sold 2.5 billion euros of five- and 10-year euro-denominated bonds, its third sale of sovereign debt this year after its triumphant return to global markets in April. ($1 = 15.1800 Argentine pesos)

Reporting by Walter Bianchi; Writing by Luc Cohen; Editing by Will Dunham

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