External Debt: Provinces Leading The Way

October 2006 | Market Strategy

As the Argentine federal government continues to seek ways to return fully to international debt markets, Argentine provinces are moving forward with their own operations. Reports surfaced over the weekend that Buenos Aires Province would issue US$300mn in bonds maturing in 2018 in foreign markets, the first such sale since the country's 2001 default. While Argentina has sold dollar-denominated debt, thus far, these issues have been made under Argentine jurisdiction, and not under international law. The province is planning a road show to New York and London to drum up interest in the sale, which has a targeted amount of

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