Debt in pesos: Economy announced tender for 4 Lecaps and a bond tied to the dollar

The Finance Secretary announced this Monday a new call for bidding on debt in pesos, which includes two new Lecaps, two reopenings of these bills, and a linked dollar bond (adjusted to the evolution of the official dollar).

The placement that will take place this Wednesday the portfolio he leads Luis Caputo will include the following instruments:

to. CAPITALIZABLE NATIONAL TREASURY BILL IN PESOS WITH MATURITY ON JULY 26, 2024 (S26L4 – reopening);

b. NATIONAL TREASURY BILL CAPITALIZABLE IN PESOS WITH MATURITY AUGUST 30, 2024 (S30G4 – reopening);

c. NATIONAL TREASURY BILL CAPITALIZABLE IN PESOS WITH MATURITY SEPTEMBER 30, 2024 (S30S4 – new);

d. NATIONAL TREASURY BILL CAPITALIZABLE IN PESOS WITH MATURITY DECEMBER 13, 2024 (S13D4 – new); and

and. NATIONAL TREASURY BOND LINKED TO THE US DOLLAR ZERO COUPON EXPIRATION DECEMBER 15, 2025 (TZVD5 – new).

Receipt of offers for all instruments It will begin at 10 a.m. and end at 3 p.m. on June 26, 2024.

Debt tender: who will the competitive tranches be intended for?

In the non-competitive sections, they must be entered only the VNO amounts to be subscribed and will be destined to natural or legal personsDue to their characteristics, they do not have the necessary specialization to carry out an evaluation of the financial conditions of the tender and require the advice of a specialized entity.

Common Investment Funds, Public Funds, insurance companies, depositaries, or any other financial entity that, due to its characteristics, is an entity related to the financial market, are excluded from the non-competitive section and are considered specialized agents.

Entities that upload offers in these non-competitive sections may only place one order per CUIL or CUIT of Clients, a single offer per investor will be accepted and it must be less than or equal to an amount of VNO $50,000,000, for the instruments denominated in pesos, and less than or equal to an amount of VNO USD 50,000, for instruments denominated in US dollars, and only the amount to be subscribed must be recorded.

The offers that are presented in the competitive section They must follow the following criteria:

• In the case of the LECAPs in points a. and b., they must indicate the amount of the VNO to be subscribed, which must be greater than VNO $50,000,000 and the reopening price for each VNO $1,000.

• in the case of the LECAP of points c. and d., must indicate the amount of the VNO to be subscribed, which must be greater than VNO $50,000,000 and the effective monthly rate that these instruments will capitalize as a percentage number with two decimal places in increments of 0.01 decimal places, which do not They may be less than those detailed in the table below.

• In the case of the TZVD5 LINKED DOLLAR BONUS, they must indicate the amount of the VNO in US dollars to be subscribed, which must be greater than VNO USD 50,000 and the price in US dollars for each VNO USD 1,000 with two decimal places.

Debt tender: who will the competitive tranches be intended for?

The competitive sections will be intended for: i) natural or legal persons for amounts greater than VNO $50,000,000 for instruments denominated in pesos and VNO USD 50,000 for instruments denominated in US dollars, and ii) to all other types of investors, who due to their characteristics were excluded from the non-competitive section, with a minimum offer of VNO $ 1,000,000 for instruments in pesos and VNO USD 1,000 for instruments denominated in US dollars and will have no limitation on the maximum amount to be offered.

They will be able to participate in the subscriptions of LECAP and LINKED DOLLAR BONUS for interested human or legal personsand for these purposes they must direct their expressions of interest in a timely manner through settlement and clearing agents (integral and own) and trading agents registered with the CNV.

Finally, it is established that the Settlement of the offers received and awarded will take place on **Monday, July 1, 2024 (T+2).