Solid Santa Fe offers value on bond return

Santa Fe, Rosario, Argentina
By Oliver West
16 Mar 2017

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.

B3/B rated Santa Fe has the lowest debt levels of any Argentine province, and this is reflected in its spreads versus the sovereign. In the Argentine sub-sovereign bond universe, only the City of Buenos Aires trades inside Santa Fe, which debuted in international markets in October 2016.

On that ...

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