Despite the negative climate in local and foreign markets, Economía managed to close an operation that was rated “positive” by analysts.
In the midst of the deep global crisis due to the expansion of the coronavirus, the Government achieved a successful exchange on Friday for the Dual Bond of 945 million dollars and covered 85% of the total issued by that title, reported the Ministry of Economy.
Despite the negative climate surrounding the local and foreign markets, the Palacio de Hacienda managed to close an operation that was rated “positive” by analysts and financial operators.
The Ministry of Finance also reported that in the tender for species of the basket consisting of discount letters and in those adjusted by the Reference Stabilization Coefficient (CER) awarded the total of offers received for 56,825 million pesos to cover future maturities.
The obligations correspond to bills LECAP (S30S9) for $ 2,176 million, LECAP (S11O9) for $ 10,832 million, LECER (X30S9) for $ 43,530 million and LELINK (V03O9) for US $ 287 million. .
Finance Secretary Diego Bastourre highlighted that in the compound bidding, “almost 50% of the technical value” of the maturities that reached between 30 and 8 April next reach 130 billion pesos.
Bastourre remarked that the Government managed “a very good accompaniment of local investors and also from abroad” that they had in their possession 75% of the original issue of the Dual bond of 1,637 million dollars.
The official considered that in the tender “a result was obtained that is reasonably very good” and added that “if you consider that we are in the midst of an international financial storm, perhaps the results would have been better.” .
The Undersecretary of Financing, Ramiro Tosi, highlighted that “Very good results were achieved, considering that this was the largest operation since last December, both for the value and the number of instruments”.
Economy reported that in the tender a total of 722 orders were received to subscribe new public debt instruments for a total total of $ 122,974 million.
In the bid for the exchange of the Dual Bond, with a maturity of two years, it represented an issue of CER-adjusted bonds plus an additional yield of 1.2% for $ 59.37 billion.
The bidding for the bills was issued at a discount rate, maturing next June for $ 16,628 million and other LECER bills, maturing in November 200 for $ 46,974 million.
Find out the latest on digital economy, startups, fintech, corporate innovation and blockchain. CLICK HERE