Rally puts Argentine names on alert for bond market return
Argentine borrowers are poised for a notable return to international debt markets next year after a strong recent rally and this week’s important compensation deal with Spain’s Repsol. While the sovereign remains locked out due to its creditor dispute, bankers expect sub-sovereign and corporate credits to seek foreign funding in size in the wake of September’s ground-breaking deal from YPF.
“I think debt issuance is absolutely predictable,” said Siobhan Morden, head of Latin America strategy at Jefferies in New York. “The likes of City of Buenos Aires, Province of Buenos Aires and YPF all need the funds, and today’s yield levels suggest market access.”One EM bond investor ...
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