The Central Bank (BCRA) made this Wednesday the First auction of the series 4 of the Bopreal (Bonds for the reconstruction of a free Argentina), in which He managed to place the equivalent AU $ S810 million.
On this occasion Offers were received per US $ 810 million, which were awarded in their entirety, As reported by the BCRA in a statement. The next tender will take place in two weeks, the Wednesday, July 2.
This new series “It aims to advance in the resolution of inherited exchange imbalances, associated with stocks retained from debt to the outside, and is framed as a complement to the flexibility of flows and the normalization of the exchange regime of phase 3 of the economic program initiated on April 11,” The monetary authority pointed out.
According to Romano Group estimates, taking a similar bopreal in the secondary market with a rate of 8.4% annual, the price of the placement of the day would be between US $ 85 YU $ S87, within what the market expected. At 8.4% with a 19% gap, it would give a CCL dollar value of $ 1,405.
In this way the national government seeks Give out a debt of about US $ 50,000 million, according to estimates from the Central Bankwhich maintains private companies with their suppliers from abroad and with matric houses for profits.
What the BCRA is looking is to give the same solution to a problem that remained last year as the inheritance of the management of Alberto Fernández, which I had stepped on imports to avoid losing dollars. Throughout the last year, companies preferred to get credit from their suppliers and make “Carry Trade” before paying their commitments.
The current commercial debt is about US $ 20,000 million higher than the historical level.
Melina di NapoliWealth Management Product Analyst in Balanz, indicated that They expected the price of the bopreal 4 to think about it as an alternative of investment in dollars, of moderate risk With a return slightly above the Bopreal 1D, which expires in October 2027, but of less volatility than the short bonds of the sovereign curve (al29/al30 and GD29/GD30).
BOPREAL TO CANCEL TAXES
The Customs Collection and Control Agency (Ark) established the procedure so that the holders of the “bonds for the reconstruction of a free Argentina” (bopreal) 4A series can use them for Cancel tax and customs obligations, including interests, fines and accessories
Taxer Cesar Litvin said the brand new standard supports Decree 384/2025 that empowered Arca to dictate complementary standards necessary, which adjust the conditions to manage the transfer of the Bopreal.
Source: Ambito
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