BA City could follow YPF but Argentina rush unlikely

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BA City could follow YPF but Argentina rush unlikely

LatAm DCM bankers were surprised and impressed that Argentine oil company YPF raised $500m of new debt this week with the sovereign default unresolved and oil prices falling. But the smaller than planned size and hefty new issue premium mean few are expecting a burst of new issue activity from the country, despite the City of Buenos Aires preparing to meet investors.

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