The BCRA launched a bond that can be subscribed by importers of goods and services with outstanding debt, with the aim of regularizing the flow of merchandise to the country.
The first libertarian bond is born: it is a linked dollar and is used to pay importers’ debt
Depositphotos
The Central Bank of the Argentine Republic (BCRA) launched a bond that can be subscribed by importers of goods and services with outstanding debt, with the aim of regularizing the flow of merchandise to the country.
He did so through Communication “A” 7918 by which he communicated the creation of the Bonus for the Recovery of Free Argentina (BOPREAL) in dollars “only importers of goods and services will be able to subscribe to it for up to imports that have pending payment until October 31, 2027.”
The subscription currency is pesos at the reference exchange rate published by the BCRA based on the Communication “A” 3500 corresponding to the business day prior to the bidding date.
Payment will be in US dollars upon amortization and/or with early redemption option(s) in favor of the holders. The cancellation of said option exercise may only be in dollar linked pesos.
It will also have the possibility of full amortization at maturity or with partial schemes as defined from time to time.
Interest will accrue on a one-year basis at a maximum annual rate of 5% to be defined in the tender announcement, which may be payable quarterly or semiannually in US dollars.
About, Martin Polochief strategist of Cohenexpressed: “Change control will be maintained, although Mechanisms are enabled to supply the demand for foreign currency for the payment of commercial debt based on a new instrument that would be issued by the BCRA”.
“Would 4 bonuses – payable in foreign currency and that may be subscribed in local currency at the official exchange rate– at different terms with a 5% annual coupon that may be transferable to creditors and whoever buys it will not have restrictions in the MULC,” he explained.
And he closed: “The key to the success of these measures will be for the BCRA to start buying dollars in the exchange market to rebuild the international reserves that today have a negative balance of US$11.3 billion.”
Source: Ambito
