The measure comes after $7.1 billion was due in the last tender in September. Despite validating a slight rate increase in short Lecap, Economía rejected offers for $1 billion and refinanced only 67%.
The Secretariats of Finance and Treasury issued a joint resolution that, in simple terms, authorizes a financial operation. This is the issuance of more Non-transferable National Treasury Bills in US Dollars maturing in 2029. These instruments are a form of debt that the Executive contracts to obtain funds and be able to finance itself.
The measure comes a day after the Ministry of Economy could not renew all of the debt maturities in pesos that it faced. It was this Wednesday, at last tender of september. There, he received offers from the market for an amount much lower than the payments to be made. Even so, and despite validating a slight rate increase In the shorter letters, the team Luis Caputo decided not to award everything offered. The result: renewed only 67% of the $7.1 billion that expired.
Issuance of Letters: the detail
Thus, via the Joint Resolution 54/2024 published this Friday in the Official Gazette, The expansion of the issuance of the “Nontransferable National Treasury Bill in Dollars” with maturity on April 3, 2029 is provided for an amount of u$s11,518,452 (original nominal value).
As can be seen from the official text, the main reason for the measure is to cancel part of the interest of other treasury bills that are already in circulation. For example, that of September 30, 2024: expiration of the fourth interest coupon of the “Nontransferable National Treasury Bill in Dollars” maturing on September 30, 2032, issued by Decree 576/2022.
And that of October 3, 2024: expiration of the first interest coupon of the “Nontransferable National Treasury Bill in Dollars” maturing on April 3, 2029, originally issued through Joint Resolution 20 of April 3, 2024.
Source: Ambito
I am Pierce Boyd, a driven and ambitious professional working in the news industry. I have been writing for 24 Hours Worlds for over five years, specializing in sports section coverage. During my tenure at the publication, I have built an impressive portfolio of articles that has earned me a reputation as an experienced journalist and content creator.
