Argentina Bonds Climb as Investors See Headway in New Offer (1)

Argentina’s dollar bonds climbed to the highest in almost three months after the government released a revised debt restructuring offer in a bid to win creditors’ support.

The country’s $1 billion of notes due in July 2028 jumped to 35.9 cents on the dollar, the highest since early March. Other Argentine securities rallied as well.

The gains reflect optimism that the government and creditors are inching closer to a deal on $65 billion of overseas bonds after the country tumbled into default on May 22, its third this century. The government’s latest offer proposed a payment moratorium for just two ...