Argentina’s Cordoba Province Sells $725 Million of Debt Abroad

Argentina’s Cordoba Province tapped fixed-income investors Thursday in the country’s first international debt sale by a local government since President Javier Milei took office in late 2023.

Cordoba, the country’s second largest by population, sold $725 million of dollar notes due in 2032 under New York law, according to a person familiar with the matter. The securities priced at par and carry a yield of 9.75%, the person added, asking not to be named discussing a private transaction.