This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
Argentina Planning Raising $1bn Through Santander
August 8, 2024
Argentina is said to be in talks with Banco Santander for a potential $1bn loan, as per sources. Its President Javier Milei is currently trying to secure funds ahead of its hard currency January 2025 debt payments totaling $4.7bn. This fund raise would be done via a complex structure of a repo transaction – here, government/central bank bonds will be offered as collateral for the loan. Santander will pitch the transaction to international and local money managers to weigh their interest and will be the manager of an SPV. The interest rate will be at SOFR+550bp for the loan maturing in 2027. This includes a 2% commitment fee and a six-month window during which the government could draw on the credit line.
Argentina’s dollar bonds were slightly higher with its 1% 2029s up 0.8 points to 56.7, yielding 13.3%.
For more details, click here
Go back to Latest bond Market News
Related Posts:
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.