Argentina’s dollar-denominated international bonds kept rising, Reuters informed.
On Thursday, the 2030 paper posted its highest ever closing price at just above 51 cents per dollar. The bonds rose from lows amid investor bets that President Javier Milei’s administration, which came to power in December, would successfully transform Argentina’s economy.
In September 2020, the country issued six new US dollar-denominated Eurobonds with maturities in 2029, 2030, 2035, 2038, 2041 and 2046 as part of a debt restructuring to bondholders worth about $65 billion. Six euro-denominated bonds with the same maturities were also issued.
According to LSEG Datastream, the dollar bonds have been trading below their original price since the second half of September 2020. The new bonds replaced a package that included then-recently-issued bonds along with 100-year bonds maturing in 2117.
