Argentina Delivers $597 Million Windfall to Bond Investors

Source: Bloomberg
By: Sebastian Boyd
04.20.2016

Investors who bought bonds in Argentina’s record-breaking salehave made $597 million in profit in just two days.

The bonds that were sold for $16.4 billion now have a market value of about $17 billion as of 12:11 p.m. in New York, according to prices compiled by Bloomberg. The notes, the first overseas debt sold by the country in 15 years, got bids from potential buyers for more than four times the amount offered, according to the government.

While the jump in prices speaks to investors’ confidence that President Mauricio Macri will succeed in his plan to bolster the economy and lure capital, it also signals that Argentina may have been able to issue at lower interest rates. The notes with maturities of three to 30 years were issued at yields ranging from 6.25 percent to 8 percent, already below average for similarly-rated countries.

External Link: CLICK HERE FOR FULL ARTICLE.

  • VII Concurso Internacional de Vinhos do Brasil (Wine)
  • New York Times 36 Hours in Buenos Aires
  • Alternative Latin Investor
  • Artful Living (Mansion)
  • Avid Magazine (AWE)
  • BlackBook Mag (Mansion)
  • CNN (AWE)
  • Conde Nast Traveler (Mansion)
  • Delta Sky Magazine (Mansion)
  • Departures (AWE)
  • Elite Traveler (Mansion)
  • Finger Lakes International Wine Competition (Wine)
  • Fodor's Choice 2013 (Mansion)
  • Fodor's Choice 2013 (Wine Estates)
  • Fodors (AWE)
  • Forbes Life (Mansion)
  • Frommer's Best Vineyards & Hotels Around the World
  • Andrew Harper’s Grand Awards 2013
  • International Wine Challenge U.K.
  • 2013 International Wine & Spirit Competition (Wine)
  • Kiwi Collection (Mansion)
  • Kiwi (AWE)
  • National Geographic Traveller 2012
  • Order Wine Direct (Wine)
  • Robb Report Exceptional Places 2012
  • Tablet Hotels (Mansion)
  • Telegraph (AWE)
  • Mediterranean International Wine & Spirits Challenge (Wine)
  • Travel+Leisure
  • Trip Advisor Top 25 Hotels for Romance Argentina
  • Unique Homes (AWE)
  • USA Today (Mansion)
  • 2013 Vinalies Internationales Paris d'or (Wine)
  • Vinandino 2013 (Wine)
  • VINUS 2014 (wine)
  • WAWWJ 2014 (Wine)
  • Wine Enthusiast (AWE)