Argentina’s state pension agency is planning to sell in overseas markets some of the $2.3 billion of short-term dollar bonds it bought from the government in 2011, according to a person familiar with the fund’s investments.
Three bond restructurings totaling about $9.7 billion in the Caribbean this year are failing to ignite economic growth and may not help the region avoid more defaults, according to Moody’s Investors Service.
Rwanda, which starts marketing $400 million of debut Eurobonds this week, is counting on investor demand for African debt that enabled Zambia to increase the size of its first dollar bonds in September and Tanzania to lure four times the amount it sought last month.
Jamaica’s borrowing costs are surging to the highest level in nine months after defaults by two Caribbean neighbors combine with the region’s slowest economic growth prospects to undermine investor confidence.
The International Finance Corp. raised the size of its debut Nigerian local-currency bond sale to 12 billion naira ($76.3 million) after investors sought more than twice the amount initially offered amid pent-up demand for debt of Africa’s biggest oil producer.
Middle Eastern bonds have been offering a lower yield premium than Latin American debt for the longest stretch in six years, as Argentine and Venezuelan inflation concerns investors more than Arab uprisings.