Argentina Claims Return to Global Markets With Peso Bond Sale

Argentina’s government will issue a five-year bond denominated in pesos that’s aimed at international investors who are allowed to purchase it in US dollars, a move the government hailed as its return to global markets after a sovereign restructuring during the pandemic.

The May 28 auction is set to raise up to $1 billion, Finance Secretary Pablo Quirno posted on X Monday. Analysts quickly pointed out the bond will help accumulate the central bank’s foreign reserves, while Economy Minister Luis Caputo described the auction as a milestone even though one of his deputies clarified it would be issued under local Argentine law instead of New York law like most international bonds.