The Republic of Argentina has issued $2.75 billion of
100-year notes, one of only a small handful of sovereigns to go
down this route. Previous issuances have come from countries
including Ireland, Mexico, the Philippines, China and the
The Latin American nation is the first among the group to do
so with a junk-rating – the notes carry a coupon of
7.125%. Mexico’s own bonds, in 2011, yielded
5.96%, while the Irish debt, in 2016, had a coupon of
The issuance comes less than 18 months after the country
settled a $95 billion sovereign debt dispute, simultaneously
issuing $16.5 billion in bonds in what was heralded as a
triumphant return to the international capital markets
following a 14-year absence.
Jose Maria Bazan, partner at Bruchou Fernández Madero
& Lombardi who...