THE REPUBLIC of Argentina is considering a $2bn local syndicated loan as an alternative to coming to the international bond markets this year. Resigning itself to the fact that global bond markets could well be shut to emerging market issuers for the rest of this year, the republic's borrowing team has latched on to the local loan market as the place to get the best priced funding in the three to five year maturity range and in one $2bn hit.
September 11, 1998