Issue of $16.5bn in bonds to international markets will pay off holdout creditors from 2002 default and kickstart fresh president’s reform agendaArgentina has sold $16.5bn of sovereign debt in its first international bond issue since its record 2002 default.
Most proceeds from the auction,which was four times oversubscribed, will go to finally settling Argentina’s messy legal dispute with investors over unpaid debt that emerged from the $100bn default that plunged millions of middle lesson Argentinians into poverty.
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Source: theguardian.com