Specific, this Wednesday between 11 and 16 the holders of the Ledes S30J2 (fixed rate) and the Lecer X30J2 (indexed to inflation) will be able to enter the exchange and convert their letters by other instruments of the same type and at short notice. In both cases, they will be able to opt for two different baskets of titles. Tomorrow, between 10 and 12:30, there will be a second round, in which the banks and Alyc that participate in the Market Makers Program will be able to subscribe up to an additional 20% of the amount awarded in the first round.
According to data from the Congressional Budget Office (OPC), the expiration of the You give in question is because $222,867 million and the one of the reading by $338,983 million. Both payments are scheduled for June 30 and the official objective is to refinance a part with the conversion and the rest with the tender scheduled for next week. About 40% of the amount is in the hands of the public sector, which is expected to mostly enter.
In the exchange, Ledes holders will be able to opt for two baskets each made up of three bills, also at a fixed rate: the first contains Ledes that expire in October, November and December 2022 (that is, four, five and six months later). term) with an average nominal annual rate (TNA) of 57.92%; and the second, even shorter, offers Ledes to August, October and November (two, four and five months) with TNA of 56.68%.
For their part, investors who own the Lecer X30J2 will be able to exchange them for two other baskets made up of indexed bills: the first consists of Lecer for the next October, December and January (four, six and seven months) with an average real rate of 3.39 % more CER; the second, by Lecer to August, October and December (less than two, four and five months) with a yield of 0.35% plus CER. In all cases, the rates offered are in line with secondary market values.
Source: Ambito
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