Argentina has raised $1bn from international investors in a vote of economic confidence for libertarian president Javier Milei seven years after the country last tapped global capital markets.
The peso-denominated sovereign bond, issued under Argentine law and targeted solely at foreign investors, was offered in dollars — a move that will boost the country’s foreign currency reserves — but pays out in pesos. It was issued at a coupon of 29.5 per cent and matures in 2030.
“Excellent news,” Milei’s economy minister Luis Caputo said on X after officials announced that offers had exceeded the $1bn maximum set by the government. “Being able to refinance principal maturities is crucial!”