The total maturities to be refinanced in the month of June, after the conversion operation last Wednesday 22, totaled $243,701 million and Economy obtained more than $248,000 million.
Not counting the Second Round to be held this Wednesday, In June, the Treasury accumulated positive net financing of $16.22 billion, with a refinancing rate of 106%.
In this latest tender, 891 offers were received, representing a total of VNO $263,098 million, awarding an effective value of $248,078 million.
Of the total financing obtained, 85% corresponded to instruments maturing in 2022 and the remaining 15% to the dollar-linked instrument maturing in 2023.
Likewise, 51% of the awarded amount was in CER-adjustable instruments, 34% in fixed-rate instruments, and the remaining 15% in dollar-linked instruments.
The menu of instruments offered in this tender was made up of 9 titles, maturing in 2022, 2023 and 2024. A new LELITE was issued maturing on July 29, three discount bills (LEDE) maturing August 31 were reopened, October 31 and November 30, 2022. In addition, two CER-adjusted bills (LECER) maturing on October 21 and December 16, 2022 were reopened, and a new LECER was issued maturing on November 23, 2022. Finally, two US dollar-linked bonds maturing on April 28, 2023 and April 30, 2024 were reopened
In line with what was communicated at the time of the call for bids, the Treasury offered instruments with a positive real rate for participating investors. In the case of nominal rate instruments (YOU GIVE), the rate awarded implies a differential close to 6 percentage points with respect to the BCRA’s monetary policy rate.
In the case of instruments with adjustment CER (LECER) the range of real rates was between 2.5% and 3.3% per year.
Within the framework of the Market Makers Program, this Thursday the Second Round will be held, where offers can be received and awarded for up to 20% of the total nominal value awarded in the tender this Tuesday in the eligible species of the Program.
Thus, in the first half of the year, The Treasury accumulated positive net financing of $663,246 million, which implies a refinancing rate of 121%, with placements for a total of $3.81 trillion and maturities for $3.14 trillion.
The next tender will take place on Wednesday, July 13, as previously reported in the tender schedule for the second half of 2022.
Source: Ambito
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