ADVERTISEMENT
News » Money
Oct 23, 2:04 PM EDT

Argentina looks for fresh sources of financing with issuance of 2-year bond for $1 billion

World Video

Latest News
Argentine court sentences 15 ex-dictatorship officials to life for abuses during 'dirty war'

Argentina gets its 32nd national park, thanks to donations from public to pay for the land

Argentina looks for fresh sources of financing with issuance of 2-year bond for $1 billion

Argentine town faces ghosts of Dirty War as victims of dictatorship face alleged abusers

Argentine President Fernandez ordered to rest for 48 hours so she can recover from sore throat

Buy AP Photo Reprints
Multimedia
A district summary of the Beige Book
Measuring economic stress by county nationwide
Mall malaise: shoppers browse, but don't buy
Unemployment by the numbers
Family struggles with father's unemployment
Saying an affordable goodbye
Hard times hit small car dealer
Latest Economic News
Greeks get 8 years to clear austerity tax bill, as arrears mountain grows

UK premier protests demand for extra contribution to EU coffers amid Euroskeptic pressure

UK economy grows a robust 0.7 percent as recovery continues despite global troubles

Survey shows end to slide in German consumer confidence, despite cooling economic outlook

Argentina looks for fresh sources of financing with issuance of 2-year bond for $1 billion

Recession fears for eurozone remain despite surprising improvement in key survey

India picks up pace on economic overhaul with a slew of big announcements

China's economic growth falls to 7.3 percent in 3Q, lowest in 5 years

Moody's raises Egypt's outlook to stable from negative but keeps government bond rating low

Germany, France to draw up proposals to boost investment, put aside differences of tone

Interactives
Greece's Debt Threatens to Spread
State budget
gaps map
Auto industry problems trickle down, punish Tennessee county
Women give old Derby hats a makeover in tough economy
S.C. town deals with highest unemployment in South
How mortgages were bundled and sold as securities
Tracking the $700 billion financial bailout
Tracking the year's job losses
State-by-state foreclosures since 2007
Credit crisis explained
Presidents and their economic legacies
Lexicon of the financial crisis
Americans' addiction to debt
Related Stories
Embattled founder of Seattle's Mars Hill megachurch resigns amid questions about leadership

BUENOS AIRES, Argentina (AP) -- Argentina began offering a new two-year sovereign bond for $1 billion on Thursday, at a time when the government is desperately looking for fresh sources of financing.

The bond issue will be denominated in U.S. dollars but paid in local pesos. The economy ministry says the Bonad 2016 has an annual coupon of 1.75 percent. The obligations will be paid every semester on April 28 and October 28 at Argentina's official exchange rate.

Argentina's economy is in recession, Central Bank reserves are dwindling and the government is grappling with one of the world's highest inflation rates. A U.S. court ruling also recently pushed Argentina into its second technical default in 13 years. The country has been kept from global credit markets since its record $100 billion default in 2001.

© 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy and Terms of Use.

 
ADVERTISEMENT