Argentina

The Argentine province of Santa Fe offered an attractive pick-up to comparable credits, said bond market participants, after it priced its second ever international bond issue on Thursday.

Argentina is returning to the Swiss franc bond market after nearly 20 years, roadshowing a benchmark bond next week. Success or failure will indicate whether Swiss investors have forgiven Argentina for burning their fingers last time they met, writes Silas Brown.

Argentina is returning to the Swiss franc bond market after nearly two decades of absence, roadshowing a benchmark bond next week. Success or failure will indicate whether Swiss investors have forgiven Argentina for burning their fingers last time they met.

This week saw the entry of Kuwait into the capital markets. The sovereign’s long awaited debut received orders of $29bn at peak, proving that demand for the region is as strong as ever. Now Argentina is looking to print a rare Swiss franc deal.

Santa Fe wants to raise a further $250m of senior unsecured bonds, according to investors, in what would be the fifth sale by an Argentine province this year.

Argentine airport operator Aeropuertos Argentina 2000 has bought back all of its remaining 10.75% bonds due 2020, according to a regulatory filing.

Raghsa, the Argentine real estate company, is likely to price a seven year bond on Wednesday after setting initial price thoughts at 7.5%.

Argentina has earned its first positive rating action since the triple upgrade that followed its emergence from default last year, as Moody’s placed the sovereign’s B3 rating on positive outlook on Monday evening.

Argentine real estate company Raghsa is meeting international investors ahead of a planned $150m issue of senior unsecured notes due 2024.

Argentina’s third largest private sector lender Banco Macro is considering selling up to $300m of New York law peso-linked notes, following in the steps of fellow banks Supervielle and Hipotecario.

The government of Belize has extended the deadline for a consent solicitation designed to ease its debt burden for the fourth time, but has again failed to offer bondholders a better deal.

The province of Córdoba sold a five times oversubscribed 7.5 year bond on Wednesday to suggest that plenty of appetite for Argentine paper remained — even if it is growing ever more picky about credit quality.