To pay a due date on Tuesday, the Ministry of Economy issued a non-transferable treasury bill in dollars for an amount of US$37 million.
He Ministry of Economy In conjunction with the Ministry of Finance and Treasury, it ordered the issuance of a new National Treasury bill maturing on January 7, 2030, with the objective of canceling 60% of interest and capital amortization payments of a non-transferable bill in dollars. of the Central Bank (BCRA). The decision was made through Joint Resolution 1/2025 published this Wednesday in the Official Gazette.
Based on article 37 of Law 27,701 of the 2023 Budget and its modifications, the Ministry of Economy is authorized to carry out public credit operations to pay the maturities of non-transferable bills in dollars. On January 7 and 8, 2025, interest coupons on various National Treasury bills expire, which will be partially replaced (60%) by new securities. public funds maturing in 2030, while the remaining 40% will be paid in cash. The measure adjusts to legal limits and has the intervention of the Ministry’s legal service.
Debt: the characteristics of the new letter issued
The issuance of a non-transferable bill in dollars was established with maturity on January 7, 2030, for an amount of US$37,960,128.
- Amortization: full upon maturity.
- Interests: will accrue interest, payable semiannually, based on the interest rate accrued by the BCRA’s international reserves for the same period and up to a maximum of the SOFR TERM rate at one (1) year plus the adjustment margin of zero point seventy-one. one thousand five hundred and thirteen one hundred thousandths of a percent (0.71513%) less one (1) percentage point, applied to the amount of capital actually subscribed.
- The National Public Credit Office dependent on the Undersecretariat of Financing of the Secretariat of Finance of the Ministry of Economy, it will be the agent for calculating the respective rate based on the information that the BCRA will provide on the performance of international reserves in the corresponding semester.
This measure will come into force from the day of its issuance.
Source: Ambito
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