FYI: Pacific Investment Management Co. is ramping up its wager on the world’s top-paying bond as Argentina sells more of the notes at a government auction Thursday.
The securities, originally issued in June 2017 and maturing in 2020, pay a floating coupon tied to the country’s benchmark interest rate, which stands at just under 68%. Pimco has increased its position in the securities by about two-thirds this year, and now owns almost 40% of the total 104 billion pesos ($2.4 billion) issue, according to the bond-fund manager’s most recent regulatory filings.
Regards,
Ted
https://finance.yahoo.com/news/pimco-dominating-market-argentina-bond-135608373.html
