Argentina returns to international credit markets

Staff Writer
Columbus CEO

BUENOS AIRES, Argentina (AP) — Argentina has returned to global bond markets for the first time in 15 years.

The South American country announced a $10 billion-$15 billion bond issue Monday. The proceeds will help pay a group of holdout creditors who refused debt restructurings after Argentina defaulted on $100 billion of bonds in 2001.

President Mauricio Macri campaigned last year on promises to boost the continent's second-largest economy by putting an end to a longstanding debt dispute.

The recent repayment deal broke an impasse that had kept Argentina on the margins of international credit markets, forcing it to print more money that stoked one of the world's highest inflation rates.

Argentina's economy minister and other officials have been meeting investors in New York and London. The new offering is expected to be priced Tuesday.