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Montevideo, December 16th 2017 - 09:13 UTC

Argentina to issue US$ 20bn in sovereign bonds as part of 2017 financial program

Tuesday, May 16th 2017 - 08:17 UTC
Full article 2 comments
The bond issuance, to take place under opportune market conditions, is part of the government's 2017 financial program. The bond issuance, to take place under opportune market conditions, is part of the government's 2017 financial program.

Argentina has authorized the sale of US$20 billion in sovereign bonds to be issued under U.S. and British law, according to a decree published in the government gazette on Monday. The bond issuance, to take place under opportune market conditions, is part of the government's 2017 financial program.

 To get the most favorable terms for Argentina, it is necessary to extend the legal jurisdiction of the transaction to state and federal courts in New York City and London, the decree said.

Bonds governed by U.S. and British law are often considered more valuable and fetch higher prices than obligations subject to the courts of Argentina.

The nominal amount of government bonds under the decree will be up to US$20 billion, according to the decree.

Business friendly president Mauricio Macri, elected in late 2015 on the promise of “normalizing” Argentina's economy and financial markets after years of heavy state intervention and non-payment of international debt obligations under the previous government

Categories: Economy, Argentina.

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  • Troy Tempest

    “ To get the most favorable terms for Argentina, it is necessary to extend the legal jurisdiction of the transaction to state and federal courts in New York City and London, the decree said.”

    Does that sound familiar?

    Same arrangement that Argentina agreed to before in order to issue bonds.

    Then the K's and trolls, Enrique, Thinkvoice, and others denied the NY courts had jurisdiction, personally insulted the Judge and officials, refused to comply, and accused the lenders of victimizing Argentina.

    May 17th, 2017 - 02:43 am +2
  • Enrique Massot

    @TT

    “...personally insulted the Judge and officials...”

    Ohhhh the outrage! Somebody dared to call Honourable Judge Thomas Griesa a vultures' helper!

    In total disregard of recent history, Macri is putting again Argentina in the hands of shady individuals as Griesa. The story omits the fact that Macri has placed Argentina's natural resources as guarantee of the loans, meaning creditors will be ready to put their hands on Vaca Muerta and its huge oil and gas deposits in case of non-payment--something Macri is running towards with light speed.

    Troy does not understand much of that--he's just mad that Think, Voice and myself “refused to comply and accused the lenders...”

    Right on, Troy. Right on.

    May 19th, 2017 - 06:43 am -1
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