Argentina Bonds Rebound as Government Announces Debt Buyback

Argentina’s dollar bonds jumped late on Monday after Finance Secretary Pablo Quirno said the government planned to buy back sovereign bonds to reduce financing costs for the indebted nation.

Notes maturing in 2035 rose more than a cent to trade around above 57 cents on the dollar, according to indicative pricing data compiled by Bloomberg. The currency market was closed before the announcement, with the peso edging lower for the session.

Quirno said the government has already begun negotiations for the transaction with the assistance of JPMorgan. He referred to the operation as a “debt-for-education” deal, with fresh loans from ...