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Wednesday, February 1, 2023

Debt swap: Economy managed to extend maturities in the first quarter by almost $3 trillion

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“A maximum participation of 60% was expected, since the maximum that could be ‘roloved’ was 70%. But more than 67% was redeemed”, Economy sources said.

In the conversion operation, a total of 1,079 offers were received, representing a total of VNO 1.6 trillion.

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Economy highlighted the participation of several financial entities, among which they led Santander Bank and Galicia Bank and, to a lesser extent, New Bank of Santa Fe, Banco San Juan and Banco Macro.

exchange economy.jpg

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The Treasury offered the following options:

•Option 1: conversion of your Eligible Title for a basket made up of 25% of the reopening of the NATIONAL TREASURY BILL IN DISCOUNTED PESOS DUE APRIL 28, 2023 (S28A3), in 35% of the reopening of the NATIONAL TREASURY BILL IN DISCOUNTED PESOS DUE ON MAY 31, 2023 (S31Y3) and 40% of the new NATIONAL TREASURY BILL IN PESOS AT A DISCOUNT DUE ON JUNE 30, 2023 (S30J3)

•Option 2: conversion of your Eligible Security for a basket made up of 35% of the reopening of the DUAL CURRENCY ARGENTINE NATIONAL BOND DUE TO JULY 2023 (TDL23), in 35% of the reopening of the ARGENTINE NATIONAL DUAL CURRENCY BOND DUE TO SEPTEMBER OF 2023 (TDS23) and 30% of the reopening of the ARGENTINE NATION BOND IN DUAL CURRENCY MATURING FEBRUARY 2024 (TDF24)

•Option 3: NATIONAL TREASURY BILL IN PESOS ADJUSTED BY CER AT DISCOUNT MATURITY JUNE 16, 2023 (LECER X16J3), exclusive for Eligible Securities LECER X20E3 and X17F3.

The next tender will take place next Wednesday, January 18, as previously reported in the preliminary schedule of tenders for the first half of 2023.

Source: Ambito

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