Report by Liliana Franco.- The Ministry of Economy achieved a 64% adhesion in the voluntary debt exchange in pesos launched this week, which allowed it to clear maturities for more than $4.34 trillion, extending the term of the commitments to the years 2024 and 2025sources from the Palacio de Hacienda reported this Thursday, describing the operation as a “success”.
between the banks, the most relevant participants were Nación, Banco Provincia, Galicia, Santander, Credicoop, Banco Ciudad and ICBC.
For his part, The holder profile concentrated a significant participation of mutual funds and corporate treasuries, which, due to their business flows, maintain a short-term investment horizon.
Within the framework of the debt swap and the regulatory adaptation carried out by the Central Bank to attract banks to participate in this process, it provided that, from this March 9, financial entities may integrate the swap bonds as part of the lace.
Communication “A” 7717 of the Central resolved that the minimum cash requirement in pesos -of the period and daily- can be met with national public securities in pesos acquired both by primary subscription and in the secondary market, including those adjustable by the CER and with yield in dual currency (DUAL BONUS).
Meanwhile, those linked to the evolution of the US dollar (dollar linked) are excluded from this possibility.
Likewise, the regulation establishes that instruments with a residual term greater than 300 days and less than 730 calendar days at the time of subscription can be used for this purpose.
Source: Ambito
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