BUENOS AIRES, April 16 (Reuters) - Argentina on Thursday raised 4.713 billion ($531.5 million) pesos in a sale of 12-month and 18-month local, peso-denominated debt, the economy ministry said.
The ministry said it received bids worth a total 7.018 billion pesos. It had sought to raise up to 5 billion pesos of the "Bonac" (bonds of the national treasury) notes in the auction.
The Bonacs come in two series, maturing in March and September 2016, with coupons payable each quarter and tracking the interest rate of the central bank's benchmark three-month notes.
Recent twists in a long-running fight with investors in the U.S. courts over debt Argentina defaulted on in 2002 are making it nearly impossible for the South American country to tap global credit markets.
Meanwhile foreign reserves are low, dollars are in short supply and inflation is rampant.
yahoo.com
The ministry said it received bids worth a total 7.018 billion pesos. It had sought to raise up to 5 billion pesos of the "Bonac" (bonds of the national treasury) notes in the auction.
The Bonacs come in two series, maturing in March and September 2016, with coupons payable each quarter and tracking the interest rate of the central bank's benchmark three-month notes.
Recent twists in a long-running fight with investors in the U.S. courts over debt Argentina defaulted on in 2002 are making it nearly impossible for the South American country to tap global credit markets.
Meanwhile foreign reserves are low, dollars are in short supply and inflation is rampant.
yahoo.com
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