Argentina reaches debt repo deal for up to $1bn with Credit Suisse

BUENOS AIRES: Argentina approved the sale and future repurchase of up to 1 billion Swiss francs ($1.03 billion) in bonds with Credit Suisse, the government said on Friday in its official gazette.

The US-dollar denominated bonds mature in 2025 and have an interest rate of 5.75 percent. The move comes after the South American country reached a $1 billion repurchase deal with HSBC in late March.

The government has said it plans to raise between $2 billion and $3 billion this year through repurchase deals. Finance Minister Luis Caputo has said Argentina does not plan to sell new debt in the international markets in 2018 after raising $9 billion through dollar bonds in January.