Economy minister Axel Kicillof has announced from Moscow that 1.42 billion dollars were raised through the auction of Bonar 24 bonds, easily surpassing the original target of 500 million dollars set by the government.
Speaking to Télam from the Russian capital, the minister hit out at hedge fund NML Capital, which during the auction suggested that the bonds would be subject to judge Thomas Griesa’s punitive ruling against Argentine titles in New York.
«They could not frighten off investors,» Kicillof underlined, while explaining that the total offer from investors came to 1.88 billion dollars.
The funds are earmarked for a social housing construction program, as well as other major infrastructure projects.
Source: Buenos Aires Herald