In this Wednesday’s tender, the Treasury placed four bonds in pesos, three of them maturing in the middle of the current year and another with a term scheduled for 2027.
They were received 1,565 offers for a total offered of VNO $636,834 million, of which a VNO of $362,459 million was awarded, which represents an effective value of $401,680 million.
The National Treasury faced maturities for $294,398 million, obtaining, therefore, a monthly net financing that reached $107,282 million, amid a scenario of some concern in the market, after opposition economists questioned the sustainability of the debt in pesos.
Of the total financing obtained, 53% was made up of instruments indexed by CER, 38% by fixed rate instruments and the remaining 9% by variable rate instruments. Likewise, 91% corresponded to instruments maturing in 2023 while the remaining 9% are due in 2027.
Within the framework of the Market Makers Program, the second round of the bidding will take place this Thursday, where offers may be received and awarded for up to 20% of the total nominal value awarded in the bidding this Wednesday.
The next tender will take place on Friday, February 24, as previously reported in the preliminary schedule of tenders for the first half of 2023.
In this tender they flew over the warnings last week from the economists of Together for Change and the National Table of the opposition coalition, who stated that “an economic bomb” is being left behind with the debt. Private estimates indicate that of the total $13 trillion Treasury Bill stock, about $3 trillion would be in the non-financial private sector (companies – individuals), and that this group would try to migrate in the coming months towards placements in corporate bonds (which are offering positive rates) or to banks where rates exceed inflation.
Source: Ambito
