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Debt: With a new Letter, the Government seeks financing for $10.800 billion

Debt: With a new Letter, the Government seeks financing for .800 billion
Debt: With a new Letter, the Government seeks financing for .800 billion

The measure comes a day after the first tender in July, the Ministry of the Economy raised an additional $3.19 billion in funding via LECAP and dollar-linked bonds.

Authorized operations are within the limits established in the 2023 budget law.

Through Joint Resolution 38/2024 of the Ministry of Economythe Ministry of Finance and the Treasury, published this Thursday in the Official Gazette, the Government authorized the issuance of new public debt instruments by the National Treasury.

The measure comes a day after the first tender in July, the Ministry of the Economy received an extra funding of $3.19 billion via LECAP and bonds dollar linkedThe decree that kicks off the future monetary scheme, which will finish migrating remunerated debt from the BCRA to the Treasury, was published.

As anticipated by Ámbito, the Ministry of The economy placed $4.24 billion on Wednesday in the first tender of debt in pesos in July. Thus, it renewed maturities for $1.05 billion and raised additional funding ($3.19 billion) that will be deposited in the Government’s account at the Central Bank.

Now, he is looking for financing with a Letter, a bond dollar linked 2027 and the expansion of two other letters.

New instruments

  • National Treasury Bill capitalizable in pesos with maturity on January 17, 2025:
  • Amount: Up to $5,400,000,000,000
  • Release date: July 12, 2024
  • Expiration: January 17, 2025
  • Interest rate: To be determined in the tender
  • Amortization: At maturity
  • Trading: In the MAE, stock exchanges and securities markets of the country
  • Tax exemptions: Yes

2. Zero-coupon US dollar-linked Treasury bond maturing June 30, 2027:

  • Amount: Up to USD 6,100,000,000
  • Release date: July 12, 2024
  • Expiration: June 30, 2027
  • Exchange rate: To be determined according to Communication “A” 3500 of the BCRA
  • Amortization: At maturity
  • Trading: In the MAE, stock exchanges and securities markets of the country
  • Tax exemptions: Yes

3. Extension of the capitalizable National Treasury Bill in pesos maturing on September 13, 2024:

  • Additional amount: $5,400,000,000,000
  • Conditions: Same as the original issue (Joint Resolution 33/2024)

4. Extension of the capitalizable National Treasury Bill in pesos maturing on October 14, 2024:

  • Additional amount: $1,087,893,330,179
  • Conditions: Same as the original issue (Joint Resolution 21/2024)

notice_310336.pdf

The funds obtained from this tender will be used to finance the National Treasury’s financial programme.

To consider

  • Authorized operations are within the limits established in the 2023 budget law.
  • The funds obtained will be used to finance the National Treasury’s financial programme.
  • The Finance Secretariat is responsible for implementing operations.

The resolution enters into force as of its date of issuance, which is Thursday, July 11, 2024.

Source: Ambito

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