The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

Argentina

Best bank
Not awarded Best debt house
Deutsche Bank

The Argentine economy is in great shape, growing at a healthy pace with low inflation thanks to sound fiscal and monetary policies, high commodity prices, and the fact that the government is not servicing a hundred billion dollars or so in external debt.

But the banking system is paralysed. It is taking deposits, but there is essentially no lending, and the system as a whole remains insolvent. Tough decisions on the degree to which the banks will be bailed out by the government have yet to be made.

But a lot of capital markets activity is going on. Citigroup did an excellent job restructuring $1.27 billion in bonds and loans of Banco Hipotecario, which became the first Argentine financial institution to complete a restructuring since the country?s default at the end of 2001.

But the best debt house in Argentina this year is Deutsche Bank. It didn?t lead manage the first Argentine bond since the default ? that honour went to Merrill Lynch, with a 10-year deal for Petrobras Energia in October. But Deutsche did reopen the deal in April, at a yield of just 9.15%,

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree