August 13, 2019 / 10:39 PM / 3 months ago

Argentina sells $409 mln in 105-day notes, cancels sale of longer-dated paper

BUENOS AIRES, Aug 13 (Reuters) - Argentina on Tuesday sold $409 million in 105-day “Lete” notes, according to a statement issued by the Treasury, adding that it had canceled a planned sale of 210-day paper.

The government sometimes shortens the maturities of new debt sales in times of market upheaval.

The local peso lost more than 18% of its value against the dollar in the first two trading sessions of the week after President Mauricio Macri, a favorite among investors, registered a worse-than-expected performance in Sunday’s primary.

Free-markets-advocate Macri is running for re-election in the October general election. His main opponent, Peronist Alberto Fernandez, came out of the primary with a surprisingly strong advantage of more than 15 percentage points. (Reporting by Lucila Sigal; Writing by Hugh Bronstein; Editing by Sandra Maler)

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