June 18, 2018 / 9:32 PM / 6 months ago

Argentina sells $4 billion in dual currency, peso bonds

BUENOS AIRES, June 18 (Reuters) - Argentina sold two sets of bonds for the equivalent of $4 billion, the Treasury and Finance Ministry said on Monday, split evenly between a dual-currency bond maturing in June 2019 and a fixed-rate, peso-denominated bond maturing in November 2020.

The dual-currency bond was sold at a rate of 32.92 percent in pesos, but will pay out at 4.5 percent in dollar terms if that amount is greater, providing investors a hedge against currency depreciation. The effective annual interest rate on the peso bond was 27.69 percent, the ministry said. (Reporting by Luc Cohen Editing by James Dalgleish)

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