60% of the new debt placed corresponded to two bonds indexed to inflation (Boncer), one maturing in September 2022 and the other maturing in April 2023. In the first case, the annual yield in real terms is 1.13%, while in the second case it is 2.48%.
In parallel, the Treasury awarded close to 30% of the total in concept of two discount bills (Ledes), with a term of January and March 2022, and rates of 40.11% and 42.59%, respectively.
The rest of the financing obtained was given through the brand new treasury liquidity bill (Lelites), placed for a very short term (November 30 of this year), at a rate of 34.25%, and only available for Common Investment Funds (FCI).
On the other hand, in the conversion operation of the bond adjustable to the official exchange rate T2V1, a total of US $ 504 million was awarded, which represents an acceptance of 51.7% of the remaining balance of the security. Almost all of the holders of this instrument that entered the exchange chose to obtain in exchange a basket made up of two other dollar linked bonds, maturing in 2022 and 2023, respectively.
Product of this operation, November’s projected maturities ($ 328,367 million) were reduced by about $ 50,600 million.
Considering the previous exchange of T2V1, carried out on October 5, it was reduced by about 73.3% of the original maturity of the bond, which amounted to some US $ 1,766 million.
From this first tender, Economy raised the annual net debt to about $ 510,000 million, which implies an annual roll-over of 118% with respect to maturities.
This Friday the second round of the bidding will take place, in which only a select group of banks and brokerage firms “Aspiring Market Makers” will be able to participate. They may request the LEDs for up to 20% of the amount placed in the first round.
As stipulated in the official calendar, the next tender will be held on Thursday, November 18.
Source From: Ambito
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