The Republic of Argentina, which is rated B3 by Moody’s and B by Standard & Poor’s, sold a $2.75 billion 100-year bond to international investors on Monday to confirm that appetite for Argentine investments remains remarkably strong.
Despite the fact that Argentina has defaulted three times in the past 23 years, the bookrunners, Citi and HSBC, built up nearly $10 billion of orders, although investors say there was some padding of the book. The bonds priced with a coupon of 7.125%
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