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Bond Market News
Argentina Secures a $3bn Repo Loan Facility Ahead of Debt Payment Deadline
January 8, 2026
Argentina secured a $3bn, one-year repo loan from a group of international banks to meet an imminent $4.3bn foreign debt payment due on Friday and to rebuild depleted reserves. The deal, arranged by the central bank at an interest rate of 7.4%, involved six lenders, with major contributions from Santander, BBVA, Deutsche Bank, Goldman Sachs, JPMorgan and Bank of China. The government used dollar-denominated local bonds as collateral, applying a steep 40% haircut — roughly $5bn in bonds were estimated to have been pledged to raise the cash. The transaction supports President Javier Milei’s strategy to stabilize finances, bolster reserves and compress country risk ahead of a potential market re-entry later this year. Analysts note that recent reserve purchases, privatization proceeds and fiscal discipline have underpinned investor confidence, even as the growing reliance on short-term repo funding highlights the urgency of restoring durable market access. They view the relatively low rate and short tenor of the repo facility as a sign of confidence in reserve accumulation and economic recovery, with Argentina expected to post moderate growth in 2026 as reforms continue.
Argentina’s dollar bonds were trading stable with its 5% 2038s at 77.6, yielding 6.6%.
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