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Argentina's 2012 Bond Tops BofA List as Fernandez Seeks Return to Markets
Bloomberg
August 02, 2010

Argentine dollar-denominated bonds due in 2012 are being recommended by Bank of America Corp. as the government prepares to make a $2.2 billion payment today, leaving 25 percent of the total issue outstanding.

The bonds, which rallied 13 percent since the end of May, may climb 4.4 percent to 23.93 cents on the dollar, Bank of America analysts led by David Beker said in a July 30 report.

Prices for longer-term bonds may decline as the government issues more of the securities when it taps overseas debt markets for the first time since its default in 2001, according to the Charlotte, North Carolina-based bank. The supply of Argentine notes due in 2033 and 2035 will also increase as investors who participated in Argentina's $18.3 billion debt restructuring in June receive the securities in exchange for defaulted notes.

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