Argentina rewards bond investors who braved crises with 135% return
US$5.7b 10-year notes give them more than the average 93% gain for emerging markets
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New York
INVESTORS who bought Argentina's bonds in the aftermath of its 2001 default and had the stomach to hold on for the next decade are about to be rewarded with a 135 per cent return when the securities mature next week, according to Bank of America Corp.
The US$5.7 billion of 10-year notes are scheduled to be paid off on Monday, handing investors more than the average 93 per cent gain for emerging markets, after years of turmoil generated by lawsuits with creditors, a plummeting currency, soaring inflation and a government that allied itself with Hugo Chavez.
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