It should be noted that the net financing for the month was $824,640 million, the highest of the year, as was the refinancing rate, which reached 200%. “The private sector provided almost all of the financing obtained,” said ministry sources.
In this tender the following titles were offered: a new LELITE maturing on September 18, 2023, exclusively for Mutual Investment Fundstwo CER-adjustable bills that were reopened, X23N3, maturing on November 23, 2023, and X18E4, maturing on January 18, 2024.
Finally, a reopening of 2 CER-adjusted bonds: T6X4 and T2X5, maturing on May 20, 2024 and February 14, 2025, respectively.
644 offers were received, representing a total offered VNO of $1.1 trillion, of which a VNO of $681,554 million was awarded, representing an effective value of $822,272 million, which implies a refinancing rate of 828%.
It was highlighted that 24% of the financing obtained corresponded to instruments maturing in 2023 while the remaining 76% corresponded to instruments maturing in 2024 and 2015.
In this tender, the average term weighted by the effective value awarded for the CER-adjusted instruments was 11.3 months. This represents a significant improvement from the July values of 5.9 months.
The second round of the bidding will take place next Tuesday, where offers may be received and awarded for up to 30% of the total nominal value awarded in today’s bidding. This maximum amount to be awarded will be distributed through two bids of 15% each between market makers and leading market makers. The instruments that are part of the program are the two letters adjustable by CER: X23N3 and X18E4.
The next tender will take place on Thursday, September 14.
Source: Ambito