December 15, 2017
Thursday, February 26, 2015

Economy Ministry: no Bonar 24 issuance underway

By Pablo Jiménez

Sources from the Argentine Economy Ministry today reiterated to there is no debt issuance underway adding the ministry is only analysing some dollar-financing proposals submitted by several bank entities.

In an interview to Ambito Financiero newspaper, Economy Viceminister Emanuel Agis assured on Tuesday the government was mulling long-term alternatives in dollars in the local market amid favourable conditions in the market. "While foreign and domestic vultures want to make us believe that Argentina is under default, our team is examining long-term dollar financing under the local law, but always respecting the logic of our model," he had said.

Yesterday, Bloomberg news agency reported an imminent issuance of Bonar 24 notes for a total of 2 billion dollars. However, sources from the Economy Ministry, headed by Axel Kicilloff, later explained "we received proposals with attractive yields, but there is no plan to issue debt and we haven't asked any bank to offer Argentine debt."

This morning, US judge Thomas Griesa ordered Deutsche Bank and JPMorgan Chase and Co to hand over documents relevant to Argentina's allegedly planned new issuance of dollar-denominated debt.
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Tags:  Griesa  Argentina  dollar  debt  economy  US  restructuring  

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