Central Banking

Argentina to place $3.5 bln in new bonds-Cavallo

ARGENTINA - Argentine Economy Minister Domingo Cavallo announced on Apr 6 that the country was planning to place $3.5 billion in new bonds that will allow it to meet its financing needs for the year.

The new bonds include a one-year $2 billion bond with a coupon of 9 percent and a three-year $1 billion promissory note carrying an 11.73 percent coupon, the ministry said in a statement.

Argentina will also place two two-year bonds, one in April 2001 and another in May 2001, for a total of $500 mi