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Government expands issuance of Treasury Bills to cancel debt with the BCRA

Government expands issuance of Treasury Bills to cancel debt with the BCRA

According to the official text, the main objective of this action is to cancel the interest service corresponding to the first coupon of another LTN.

Ignacio Petunchi

The Government authorized this Friday, March 15, through the Joint Resolution 17/2024, the expansion of the issuance of a Non-transferable National Treasury Bill in US Dollars (LTN), maturing on January 7, 2034.

According to the official text, this action has as its main objective cancel the interest service corresponding to the first coupon of another LTNwhich is scheduled to expire on September 15, 2033, and which is currently in the portfolio of the Central Bank (BCRA).

The fine print of the Resolution

This extension contemplates an amount of up to US$11,292,633.97 and It will be carried out by placing the LTN at par with the BCRA. It should be noted that this new issue will accrue interest from the date of its placement, thus ensuring compliance with the corresponding financial obligations, supports the official text.

Likewise, remember that this measure adjusts to the limits stipulated in the form attached to article 37 of Law 27,701, and has received the intervention of the permanent legal service of the Ministry of Economy.

The measure also has the necessary authorization for the holders of the National Public Credit Office and other departments of the Ministry of Economy to sign the documentation required for the implementation of this operation.

And remember that this action is carried out in the exercise of the powers conferred by current legislation, in particular, Law 27,701, Decree 1344/2007 and Decree 23/2024. The measure comes into force from the day of its issuance, in order to guarantee effective and responsible financial management.

Key points

  • Aim: The increase is carried out to cancel the interest service of the first coupon of the LTN maturing on September 15, 2033, which is in the BCRA portfolio.
  • Amount: The increase will be up to USD 11,292,633.97.
  • Placement: the LTN will be placed at par with the BCRA.
  • Interest: The LTN will accrue interest from the date of placement.

Source: Ambito

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