He Ministry of Economy and Finance (MEF) placed some 63 million dollars in the reopening of the Treasury Note Series 6 in Pension Units (UP), which for the moment manage to capture the interest of investors and are emerging as the stars of the market in 2024.
He MEF offered 850 million UP (about 34 million dollars), placing a total of 2,785 million UP, in the face of a demand for 2,785 million (about 63 million dollars), in a new success for this instrument.
The tender had a cut price of 104.63 and one Internal rate of return (IRR) of 2.25%. The integration date will be this Wednesday the 13th, while the expiration is almost 13 years away, July 20, 2036.
How is the bidding schedule going?
On Wednesday the 13th, at 2:00 p.m., the bidding for a title in pesos will be held 4.2 billion pesos with a 91 day period, and an expiration date of June 12 of the current year. Within the total, some 840 million pesos will be non-competitive placements.
Finally, on Friday the 15th, also at 2:00 p.m., another title in pesos will be tendered for other 4.2 billion pesos with a term of 168 days and a maturity date of August 30, 2024. Of the total, 840 million pesos will be non-competitive placements.
The MEF financing strategy
On the other hand, in the quarterly report of the Debt Management Unit (UGD), financing needs are projected for 4,752 million dollars, for which the issuance strategy will be key. bonds and securities, with NT in UYU, UI and UP in different terms, with a target base amount equivalent to 500 million dollars for the first semester.
The agency dependent on the MEF considers that “a regular and predictable bidding calendar will maintain flexibility in its domestic issuance of Treasury Notes in local currency (in terms of base amounts and frequency of issuance), evaluating changes in investor demand.”
In the calendar, the UGD incorporated tenders of lower maturity (for all currencies) and recalibrated the sequence of issuance of instruments in UI and UP, in line with expected demand. They will also continue to accept Monetary Regulation Bills issued by the BCU for specific tenders (Series 31 in UI, Series 11 in UYU and Series 7 in UP).
Source: Ambito
