Argentina: Dollar bond revival
On July 18, the sovereign sold its first dollar bond since the default at the end of 2001, when it issued $500 million of debt maturing in 2012. The bonds, which carried a coupon of 7.99%, were more than three times oversubscribed. Foreign investment banks led investor demand. The new notes will replace Boden bonds, a security the government issued to depositors in exchange for their frozen bank deposits after the default.
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