Treasury bonds will mature on July 31, 2024, and to pay them, the issue of a “Non-transferable National Treasury Bill in US Dollars” will be extended, maturing on April 3, 2029.
The Ministry of Finance and Treasury through the Joint Resolution 42/2024 announced another operation related to public debt. The second in the last few hours. In simple terms, the Government is refinancing part of its debt.
This means that instead of paying in cash a portion of the debt that is about to mature (both the initial principal and part of the interest), it is issuing new longer-term debt securities.
Details of the standard
Debt Type: Refers to “National Treasury Bills” denominated in US dollars. These are short-term debt instruments issued by the government and maturing on July 31, 2024.
New bonds will be issued for a value of US$2,661.74 million. The new bonds will be delivered to the Central Bank of the Argentine Republic (BCRA) and will accrue interest linked to the rate of the international reserves of the organization.
The official text states that “certain Treasury securities mature on July 31, 2024, and to pay these maturities, the issue of a “Non-transferable National Treasury Note in US Dollars” will be expanded.” maturing on April 3, 2029.
For this reason, several officials of the Ministry of Economy are authorized to sign the necessary documentation to implement this operation and the measure is established to be in force from the day it is issued.
Source: Ambito
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