TANGO AND CASH

摘要

If you had said one year ago that Argentina would raise the largest bond ever from an emerging markets sovereign, you might well have been laughed out of the room. The nation was a default pariah, locked in a seemingly endless battle with hard-nosed hedge funds that rejected the terms of a debt restructuring - and wanted to be paid in full. But new President Mauricio Macri came to power, insisted on reaching a deal with the nation's holdout creditors, and paved the way for Argentina's return to the international markets. The result was a landmark US$16.5bn bond.