The Ministry of Economy announced a 70% rollover in the last tender of the month. In the operation, Lecaps and Bonds were placed with maturities that go until March 2027. This month they were without renewing $ 3.9 billion.
The Ministry of Finance achieved award this Wednesday a total of $ 5,233 billionafter receiving offers for $ 5,653 billionthus reaching a Rollover of only 70.01% Regarding the maturities of the day, within the framework of the last debt tender in April.
In that way, the government He left unnewed approximately $ 3.9 billion, about the total commitments of the fourth month of the year (In the previous tender, 75% of approximately maturities had renewed).
In the operation of this shit, a combination of treasure instruments were placed, including LECAP, BANCAP, Zero coupon bonce and titles Dollar Linkedwith deadlines ranging from August 2025 to March 2027.
The instruments awarded are:
- LECAP as of August 15 (S15G5) for $ 2,122 billion at 2.73 %% Monthly rate or 38.12% per year
- LECAP as of September 12 (S12S5) for $ 637,000 million at 2.65% monthly rate or 36.87% per year
- BANCAP as of October 17 (T17O5) for $ 1,059 billion at 2.71% menusal or 37.85% per year
- BANCAP as of January 30, 2026 (T30E6) for $ 906,000 million at 2.66% monthly or 37.03% per year
- Bocap as of January 17, 2027 (T15E7) for $ 4 billion at 2.28% monthly or 31.13% per year
- Zero bonce coupon as of Otubre (Tzxo5) for $ 160,000 million at 3.79% plus inflation
- Bonces Cupo zero as of October 31, 2027 (TZXM7) for $ 112,000 million to 9.98% plus inflation
- Dollar Linked as of January 16, 2026 (D16E6) for $ 233,000 million to 9.83% plus the variation of the exchange rate.
After two tenders in which the treasure included bonds tied to the dollar, Without having demand for them, in this opportunity appeared interested for a term and after the elections.
It should be remembered that it is the first debt tender after the announcement of the partial output of the CEPO and the establishment of the exchange bands that generated some volatility In markets. Doubts are about the issue of commitment to the IMF for the purchase of reservations.
In analyst Christian Buter said that “the treasure placed in today’s tender $ 5,233 billion and manages to renew only 70% of the maturities.” “In the April 14 tender he had managed to renew anything more than 75.7%. In the month they were out of approximately $ 3.9 billion. There are many pesos,” he warned.
“While the ´Rollover´ was slightly greater than 70%, it is a positive result. It is also worth noting that the government, not renewanalyzed Pablo Lazzati, CEO of Insider Finance.
Source: Ambito
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