Large companies Argentinas are going out Hard dollar bonds at low rates Of interest, what benefits them because they have to pay less to creditors. However, for Investors retail, They don’t look like a good alternative Despite the solidity of these credits.
Companies go out to broadcast bonds at low rates
Specifically, in the context prior to the elections, several local companies are taking advantage of the high demand for exchange coverage to issue debt in dollars at very low rates.
For example, Payment market obtained a rate of 4.98% For a bonus of US $ 51 million that expires in 2026, with offers more than double the amount issued. Meanwhile, Arcor sold for US $ 100 million at a rate of 5.9%while YPF Luz He obtained financing for US $ 80 million at a rate of 6%.
These operations benefit in addition to recent regulations of the Central Bank (BCRA), such as A8336 communication, which limits the ability of natural persons to sell titles with foreign currency settlement after buying dollars in the official market.
Not all negotiable obligations agree
Unfortunately, these negotiable obligations are not necessarily a good investment opportunity. For the financial consultant Omar de Luccathey are in terms of very Low risk and safety of collectionbut “interest rates are low for an investor that could choose to position themselves in other types of more profitable dollars or go directly to investment in Real Estate.”
It is worth remembering that, in the secondary market, where operators and investors regulate the yields of corporate bonds through their price, Negotiable obligations with rates above 7% are negotiated and many offer 10% annual returns in dollars.
“High quality ON are a good option to dollarize. However, it must be noted that rates are somewhat low. This is explained because the emissions are used both by legal persons that seek to dollarize surpluses and for retail investors who use the dollars acquired in the market free market to subscribe on a MEP dollar, which improves the effective rate,” said the financial analyst and financial advisor Mariano Monferini.
In this line, the ideal advisor Martina del Giudice He stressed that “I would not recommend to a client” an investment in Argentina with rates less than 6%. Then, he agreed that there are better options already operating in the bag.
“In secondary market, that is, without entering by tender, there are more profitable options even for different profiles. Within the corporate line, for conservative profiles there are options in pluspetrol and viewing energy by surrendering around 8%. Moderate or more aggressive profiles find options to IRS I can’t stay until expiration, “he concluded.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
