April 18, 2016 / 2:37 PM / 2 years ago

Order books on Argentina's bond reach US$40bn: sources

NEW YORK, April 18 (IFR) - Order books on Argentina’s first bond in 15 years have reached US$40bn, with the 10-year note attracting most of the demand, sources familiar with the situation told IFR on Monday.

Investors have concentrated on the 10 and 30-year tranches in the offering, which earlier on Monday morning had received 39% and 29% of the total orders, one of the sources said.

The three and five-year pieces had received 13% and 19%, the same source said.

Argentina announced a US$10bn-$15bn bond, whose proceeds will help pay off the holders of its defaulted bonds who had rejected the payment terms of the country’s debt restructuring.

The bond is expected to price on Tuesday. (Reporting by Davide Scigliuzzo; Editing by Marc Carnegie)

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