The Ministry of Economy placed bonds for $248,078 million, with which it was able to pay the $243,701 million that were due this week, reported the Palacio de Hacienda.
Not counting the Second Round to be held this Wednesday, the Treasury accumulated in June a positive net financing of $16,220 million, with a refinancing rate of 106%, highlighted the Ministry.
“The result was positive for this tender and also for the month. In both cases with positive net financing, that is to say that more was obtained than what was sought, ”said the report of the portfolio directed by Martín Guzmán.
In the first semester, the Treasury accumulated a positive net financing of $663,246 million, which implies a refinancing rate of 121%
In this latest tender, 891 offers were received which represented a nominal value of $263,098 million, awarding a cash amount of $248,078 million
Of the total financing obtained, 85% corresponded to instruments maturing in 2022 and, the remaining 15%, to the dollar-linked instrument maturing in 2023.
Likewise, 51% of the awarded amount was in CER-adjustable instruments34% in fixed-rate instruments and the remaining 15% in dollar-linked instruments.
Today, with the Finance team, we monitor the auction of Treasury instruments to finance public policies for development.
There are economic issues that seem so abstract and yet are so important for the well-being of our people. pic.twitter.com/SBOJiKwbhP
– Martin Guzman (@Martin_M_Guzman) June 28, 2022
The menu of instruments offered in this tender was made up of 9 titles, maturing in 2022, 2023 and 2024. A new LELITE was issued with maturity on July 29, three discount bills (LEDE) with maturity on August 31, October 31 and November 30, 2022 were reopened.
Also, two letters adjusted by CER were reopened (LECER) maturing on October 21 and December 16, 2022, and a new LECER was issued maturing on November 23, 2022. Finally, two US dollar-linked bonds maturing on April 28, 2023 were reopened and on April 30, 2024
In line with what was communicated at the time of the call for tenders, the Treasury offered instruments with a positive real rate for participating investors.
In the case of nominal rate instruments (LEDES), the assigned rate implies a differential close to 6 percentage points with respect to the BCRA’s monetary policy rate.
In the case of iInstruments with CER adjustment (LECER) the range of real rates was between 2.5% and 3.3% per year
In the framework of Market Makers Programthis Wednesday will be the Second roundwhere you can receive and award bids for up to 20% of the total nominal value awarded in today’s tender in the Program’s eligible species.
Thus, in the first half of the year, the Treasury accumulated positive net financing of $663,246 million, which implies a refinancing rate of 121%, with placements for a total of $3.81 trillion and maturities for $3.14 trillion.
The next tender will take place on Wednesday, July 13, as previously reported in the bidding schedule for the second half of 2022.
