Debt in pesos: after the tender, the Ministry of the Economy orders the issuance of six Lecaps and three Boncers

He Ministry of Economy managed to place Nine bonds in pesos to refinance debt payments longer-term and lower-rate bonds, for which it obtained a little more than $6.9 billion. In this context, on Thursday, September 12, it issued the resolution that allows the issuance of these bonds. It did so through the Joint Resolution 52/2024 published in the Official Gazette.

One by one all the titles awarded and the consequent issue will be made:

The instruments awarded are:

• LECAP 12/13/24 (S13D4) $2.18 billion at 3.75% TEM
• LECAP 02/14/25 (S14F5) $1.25 billion at 3.90% TEM
• LECAP 03/14/25 (S14M5) $0.61 billion at 3.90% TEM
• LECAP 04/16/25 (S16A5) $1.00 billion at 3.90%
• TEM LECAP 05/16/25 (S16Y5) $0.72 billion at 3.95% TEM
• LECAP 12/09/25 (S12S5) $0.83 billion at 3.95% TEM
• BONCER 03/31/25 (TZXM5) $0.24 billion at +5.63% IRR
• BONCER 03/31/26 (TZXM6) $0.15 billion at +8.50% IRR
• BONCER 03/31/27 (TZXM7) $0.02 billion at +9.73% IRR

The greatest investor interest was taken by the Treasury bill with shorter maturityDecember 13, which raised $2.1 billion, an effective monthly rate at the time of capitalization of 3.75%.

In second place was the Bill maturing on February 14, 2025 with $1.2 trillion and an annual nominal rate of 50.53%.

The other bills had the following maturities in 2025, cash amounts and nominal rates: Bill as of March 14; $ 608,909 million; 51.64% // April 16, $ 995,916; 52.75% // May 16, $ 717,552; 54.61% // as of September 21, $ 828,692; 59.14%

As for the inflation-adjusted bonds (CER), had the following results: the one due on March 31, 2025 raised $1.2 trillion and a rate of 5.56%; the one payable on March 31, 2026 raised $1.1 trillion, and a rate of 8.7%; and the one due on March 31, but in 2027, raised $984,020 million and a rate of 10.40%.