With the objective of paying the maturity of a bill in dollars on December 2, the Ministry of Economy ordered the extension of another bill for US$19 million.
The Ministry of Economy and the Secretariat of Finance and Treasury expanded the issuance of a Treasury bill in dollars to pay 60% of the interest of the 19th interest coupon of another bill in dollars maturing in 2025.
“The extension of the issuance of the “Nontransferable National Treasury Bill in United States Dollars” expiration April 3, 2029 is provided.“, stipulated Joint Resolution 63/2024 published this Wednesday in the Official Gazette. The bill was originally issued on April 3, 2024 for a nominal value in dollars of US$19,787,820, to be delivered to the Central Bank, accruing interest from the date of placement.
According to what is stipulated by the Ministry of Economy, on December 2 the nineteenth interest coupon of the Treasury Bill in dollars due on June 1, 2025 must be paid.
Furthermore, the document details that: “It is provided that during the current fiscal year the payments of amortization services of capital and sixty percent (60%) of interest services on non-transferable bills in the portfolio of the Central Bank of the Argentine Republic (BCRA), They will be replaced, at their expiration date, by new public securities issued at par, with a term of five (5) years, with full amortization at maturity, and which will accrue an interest rate equal to that the BCRA’s international reserves accrue for the same period and up to a maximum of the one (1) year SOFR TERM rate plus the adjustment margin of zero point seventy-one thousand five hundred and thirteen hundred thousandths of a percent (0.71513%) minus one (1) percentage point, applied to the amount of capital actually subscribed, as determined by the Body Responsible for the Coordination of Financial Administration Systems, and that the remaining forty percent (40%) of the interest services of the aforementioned bills will be paid in cash.”
Debt in pesos: Economía offers Lecap and Boncap again in the last tender of the month
He Ministry of Economy announced this Monday the instruments that will be offered in the next debt tender in pesos, with the news that the Lecap and Boncap -both at a fixed rate- after his absence in the last placements.
The tender will be held this Wednesday and will be the last one in November. On this occasion, the Treasury will face maturities of around $5.2 trillion (of the Lecap S29N4 and the dual TDN24 bond), which total $5.25 trillion. . It is much more than in the two previous auctions, when $1.6 billion and $2.9 billion expired and it only renewed 55% and 52%, respectively.
In this way, the Secretary of Finance announced on the day that will offer the following instruments:
- to. LECAP IN PESOS EXPIRING MAY 16, 2025 (S16Y5 – reopening);
- b. BONCAP IN PESOS EXPIRING OCTOBER 17, 2025 (T17O5 – reopening);
- c. BONCAP IN PESOS EXPIRING FEBRUARY 13, 2026 (new);
- d. BONCER IN ZERO PESOS COUPON WITH ADJUSTMENT TO BE EXPIRED MARCH 31, 2026 (TZXM6 – reopening); and
- and. BONCER IN ZERO PESOS COUPON WITH ADJUSTMENT TO BE EXPIRED OCTOBER 30, 2026 (TZXO6 – reopening).
Receipt of offers for all instruments It will begin at 10 a.m. and end at 3 p.m. on Wednesday, November 27, 2024.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
