Argentina Secures Dollars Below 7% for $4.2 Billion Bond Payment, Shunning 9% Wall Street Funding
Updated
Updated · Bloomberg · Jun 24
Argentina Secures Dollars Below 7% for $4.2 Billion Bond Payment, Shunning 9% Wall Street Funding
1 articles · Updated · Bloomberg · Jun 24
Summary
$4.2 billion in dollars has been lined up for Argentina’s July 9 bond payment at a cost below 7%, sparing President Javier Milei’s government a pricier market return.
Luis Caputo’s strategy relied on alternative funding channels instead of issuing in international markets, where borrowing would still cost about 9% and had been near 10% months ago.
The result gives Milei a near-term debt-payment cushion while reinforcing his push to avoid Wall Street financing until Argentina can borrow more cheaply.