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Argentina Launches Big Euromark Issue; Mark Bonds Extend Fall on Russian Unrest
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Argentina Launches Big Euromark Issue; Mark Bonds Extend Fall on Russian Unrest
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Newspaper Article
Argentina Launches Big Euromark Issue; Mark Bonds Extend Fall on Russian Unrest
1993
Overview
The Republic of Argentina appeared late in the session with its long-awaited five-year offering, which was given a coupon of 8% and reoffered at a recommended price of 99.15, a spread of 250 basis points over the comparable German government instrument, the Bundesobligation. Late Thursday, the bonds were trading at 99.45 bid and 99.55 offer, to yield about 235 basis points over. CSFB-Effectenbank and Deutsche Bank co-managed the issue. (A basis point is one-hundredth of a percentage point.)
