Last month, Aeropuertos Argentina raised $300 million in a cross-border bond that was well received by investors, with orders reportedly hitting $1.8 billion. Since the Republic of Argentina completed a debt exchange in September 2010 more than $2 billion of corporate bond issuance and $2 billion of provincial and municipal debt has been sold in the international markets. With a sovereign bond set to follow this year, creating a new benchmark for the country, the prospects for Argentine issuance are strong – especially if low real interest rates in the developed markets continue to attract yield-hungry investors to emerging markets.
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the current Argentine inflation rate |
The Aeropuertos Argentina deal was increased in size from the $250 million that had been marketed on a three-continent roadshow.
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