Petroquímica Comodoro Rivadavia (PCR) has successfully raised US$400 million through its first international bond issuance, marking a significant milestone for the Argentine energy company.
The deal was priced at an 8.5% coupon, with investor demand reaching approximately US$1 billion, indicating robust interest in the offering.
Additionally, Argentina’s Neuquén Province is preparing to issue up to US$500 million in international bonds, further signaling a return to global capital markets for Argentine entities.
The oversubscription highlights a shift in sentiment toward Argentine corporate issuers, as global investors seek higher-yielding opportunities in emerging markets.
PCR’s ability to secure such strong demand suggests that the company’s credit profile and operational outlook are being viewed favorably by international capital markets.
This issuance comes amid a broader backdrop of improving macroeconomic indicators for Argentina, including a recent surge in central bank foreign reserves to over US$49 billion, the highest level in nearly nine years.
Additionally, Argentina’s Neuquén Province is preparing to issue up to US$500 million in international bonds, further signaling a return to global capital markets for Argentine entities.