This Thursday, the Government will disburse more than US$4.3 billion due to amortization and interest maturities on Globales and Bonares public securities in dollars and euros.
The Government will proceed to pay this Thursday principal and interest maturities of sovereign bonds in dollars for some US$4,341 million, according to data from the Congressional Budget Office (CPO). Faced with this disbursement, experts analyze what the next steps analyzed by the market to determine the future performance of the sovereign debt and above all, which titles have a higher upside potential.
The bonds that will trigger payments are the Bonares -with Argentine law- (AL29, AL30, AL35, AL38 and AL41), the Global -with foreign law- (GD29, GD30, GD35, GD38 and GD41), both denominated in dollars, and the Global nominated in euros (GE29, GE30, GE35, GE38, GE41 and GE46).
What strategy to put together after paying the bondholders?
According to Delphos Investmentcould be opened an opportunity to make strategic transfers from Bonares to Globales, once payment to bondholders has been made.
“Currently, the average spread due to legislation on sovereign bonds is below 1%. For this reason, and although we do not identify default risks in the short term, We prefer to remain positioned in bonds under foreign law, given their better risk profile and a potential expansion in these ratios“, they expressed in a report.
For its part, since Outlierconfirmed that attention will be focused on behavior after the payment date. “The maintenance of fiscal anchorhe dollar income associated with bleach and the prioritization of payment of maturities as the destination of accumulated reserves, even when it will imply delaying the exchange rate unificationhad a strong impact during the second semester,” they recalled.
In this context, they highlighted from Outlier that the debt made a second upward movement that brought it to current levels. “So it wouldn’t be at all unreasonable less dynamism from here on, now remaining as the main drivers for the rises the completion of exchange rate unification and the news associated with it”they expressed.
From now on, from this consultancy, they maintained that the debate will focus on the financial sustainabilitywhich is not only reduced to “drying up” the peso market, since the Government ensured the maturities by transferring the dollars, in the absence of favorable conditions to refinance its debt, they detailed.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
