Banks in Latin America pin hopes on Argentina bond surge
New York
BANKERS struggling to make a living in a waning Latin American primary market are counting on a surge of bond issuance from Argentina after the country cut a historic deal with principal holdouts last week.
Argentina has turned into the new stomping ground for debt capital markets (DCM) bankers scouring the region for business as the country emerges from a near 15-year isolation brought on by its 2001 default.
Last week's agreement between the South American country and Elliott Management - a key driver behind Argentina's legal battle with so-called holdout investors - effectively marks an end to the bitter debt dispute and paves the way for the sovereign's first bond in 15 years.
Barring any objections from Congress, the republic is now likely to issue up to US$15 billion of bonds starting as soon as April in an effort to pay litigant inves…
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