Argentina has raised $1bn in its first domestic sale of dollar debt since a 2020 restructuring, marking a milestone for Javier Milei’s government as it plots a return to global bond markets next year.
Argentina’s economy ministry on Wednesday said the bond had priced to yield 9.26 per cent annually, well below the 10.4 per cent yield at which an existing 2029 bond trades on secondary markets.
The sale of the local law bond, which was expected to be bought mostly by domestic investors, marks a step towards President Milei’s goal of bringing Argentina back to international capital markets five years after its ninth sovereign debt default in effect locked it out.