Reuters: US Dollar Report: FINEWS-Buenos Aires city to offer $100 mln in local debt

Reuters: US Dollar Report Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

FINEWS-Buenos Aires city to offer $100 mln in local debt Oct 23rd 2012, 17:30 Tue Oct 23, 2012 1:30pm EDT The city of Buenos Aires will sell up to $100 million in an 18-month local note on Thursday to raise money for infrastructure projects, sources with knowledge of the deal said. The paper will be payable in Argentine pesos but linked to the dollar's level on the official foreign exchange market to protect against a depreciation of the peso. It will be the first local government debt issue since Chaco province shook markets earlier this month by using pesos to repay dollar debts after the central bank blocked its access to greenbacks. Moody's called Chaco's move a default and downgraded Argentine provincial and municipal credit ratings, including that of the city of Buenos Aires. One source predicted the city would fetch a one-digit rate for its new issue. In December, Buenos Aires sold $85 million worth of a similar one-year note at a yield of 9.25 percent .

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions