(MENAFN) Argentina is preparing for a massive comeback to regain its place in global credit markets in August with three bonds sales summing USD11.68 billion under US law.
The bonds are set to carry maturities of five, ten and thirty years, and they'll be used to finance the payouts to investors holding unpaid debt stemming from the country's 2002 default.
Agreements in principle had been struck with 10 more bondholders relating settlements totaling USD6.7 million, and the deals are subject to Congress lifting the two laws.
Argentina has been a financial markets pariah since its record default on USD100 billion in 2002 but progress is being made, according to court-appointed mediator Daniel Pollack.
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