Franklin Templeton buys $2.25bn of Argentine Bote

Could now be Argentina's single largest creditor

Mike Sheen
clock • 2 min read

Manager of Franklin Templeton's flagship $38bn AUM Templeton Global Bond fund Michael Hasenstab has reportedly purchased more than three-quarters of $3bn Argentine "Bote" government bonds made available in May.

Argentina is understood to have reopened the five-year and eight-year Bote bonds for sale after being approached by Franklin Templeton, which already owned about half of the two bonds, with the purchase likely making the asset manager Argentina's single biggest creditor, according to the FT. Emerging debt and reform - a closer look at Argentina and Brazil Hasenstab, who provided similar support to Ireland in the aftermath of the eurozone, paid more than $2.25bn in a discrete cash infusion for the bonds. Argentina has seen its currency tumble to a record low following a change to it...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Global

Global fund managers most bullish in two years as growth expectations improve

Global fund managers most bullish in two years as growth expectations improve

BofA Global Fund Manager survey

Cristian Angeloni
clock 13 February 2024 • 2 min read
 Stories of the week: 3 November

Stories of the week: 3 November

Odey Asset Management; BoE; Fed; - The biggest stories from the world of investment and asset management this week

Sarka Halas
clock 03 November 2023 • 1 min read
Opportunity abounds as India gains entry to JP Morgan's bond index

Opportunity abounds as India gains entry to JP Morgan's bond index

'Significant foreign investor inflows’

Investment Week
clock 10 October 2023 • 6 min read
Trustpilot