Argentina Is Back, Starting with a $15 Billion Bond Issue

By Clifford Hwang

An injunction in 2012 barred Argentina, after it defaulted on $100 billion in 2001, from accessing the international finance markets until the country paid its creditors, including those who had rejected the restructuring deals. Now after the Second Circuit, on April 13, affirmed the district court’s February 19 decision to lift the injunction, Argentina will be able to access the global market.  Argentina is expected to raise funds in $15 billion bond offering, a large portion of which will be used to pay creditors with which it has reached a settlement.