Argentina Plans to Offer 100-Year Bonds
- Bonds will be used to finance budget; said to yield 7.917%
- Argentina joins Mexico, U.K., Ireland in issuing 100-year debt
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Argentina sold 100-year bonds barely a year after settling a protracted legal dispute tied to a $95 billion default.
With the $2.75 billion sale, the government of South America’s second-largest economy joins Mexico, Ireland and the U.K. in issuing debt that matures over a century, which is often particularly attractive to insurers and pension funds seeking to lock in long-term returns. Argentina, for its part, is taking advantage of historically low borrowing costs to finance the budget and pay off debt that’s maturing in the next few years.