Argentina – Emerging Market Bond Party Time?

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Argentina EM Bond

Argentina – Emerging Market Bond Party Time? by Firehorsecaper, iBankCoin Latin American issuer Argentina (B- rated as of last week) returned to the bond market with great fanfare, raising $16.5bln across four maturities, making it the largest ever EM bond issue. There were over $68bln in orders for the debt issue which allowed the 10 year (largest) tranche to price a full 50bp (0.50%) tighter than initial price talk. The bond rallied in the gray market, with the $6.5bln of 10’s trading up $1.60-$2.10 in price terms in late Tuesday trade. Argentina was rewarded for being market-friendly (legacy default on…

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