Argentina Issues $1.3 Billion In Treasury Bills

Argentina’s new government announced the issuance of $1.326 billion of dollar-denominated Treasury Bills, to be directly subscribed by the central bank, according to a decree in the official Gazette on Thursday. The issuance of the 10-year debt comes as the country’s new Peronist President Alberto Fernandez looks to pay off creditors and stave off a damaging default, Reuters reported. Argentina, hit by a debt crisis since last year, is facing tough restructuring negotiations with creditors including the International Monetary Fund (IMF) over around $100 billion in sovereign debt which it is struggling to service. The Treasury Bills will expire on Dec. 30 2029 with interest payable semi-annually. Read more