This Tuesday he returns to the market with a bond that matures in 1 year. Last week $2.9 billion were placed.
After placing $2.9 billion in the first debt tender last week, the Ministry of Economy will continue this Tuesday with the task of offering banks an instrument in local currency so that they can allocate the funds that the Central Bank no longer wants to receive.
In this second round organized by the Secretary of Finance, Pablo Quirno, will opt for a single type of instrument adjustable by inflation long-term, since CER-adjustable short-term bonds are priced quite high in the secondary market, so they are offering negative returns to investors. The adjustable titles that They expire in the first quarter and have little demand.
In this Tuesday’s call, Economía will make available a BONCER with a surcharge of 4.25% and maturity of February 14, 2025. The reception of offers will begin at 10 a.m. and end at 3 p.m., Finance reported in a statement.
The operation aims to open a door for banks so that they can dump excess pesos that they can no longer allocate to Liquidity Letters (LELIQS) that the BCRA stopped issuing. With this, the government will try to dismantle the remunerated liabilities of the financial entity.
On Wednesday of last week the Economy placed three bonds in pesos for which it obtained financing of 2.9 billion in what meant the first tender carried out under the management of Luis Caputo at the head of the Palacio de Hacienda.
Of the total awarded, 2 billion pesos corresponded to a discount Treasury Bill maturing on January 18 of next year at an effective monthly rate of 8.66%. Another $893,630 million corresponded to a Bill adjusted by CER (price variation, with a surcharge of 4.25% and which will be paid on February 14, 2024, and another $71,341 million in a title with similar characteristics but with a additional 2% to be paid on November 9, 2026.
Investor interest was reflected in the 12,828 purchase orders received for a nominal value of just over 13 billion of pesos of nominal value, of which 2.4 billion were taken, which represented an effective amount of 2.9 billion pesos
Source: Ambito
