The economy introduces a fixed-rate letter auction scheme to ensure liquidity

The four Treasury bills maturing on June 14, July 1, July 26, and August 30, 2024, include pesos. Additionally, there will be three bonds denominated in pesos with maturities on March 31, 2024, adjusted by CER. 2025, March 31, 2026 and March 31, 2027. A dollar-linked Treasury bond maturing on June 30, 2025 will also be issued.

Ignacio Pedunci

The Financial Secretary It announced this Tuesday that it will start Tenders for bills at a fixed rate On a two-week basis to confirm Market liquidity. It offers a combination of tools in this call for tenders A national treasure.

Offers for all instruments start at 10 AM and end at 3 PM on 16th May 2024.

The four Treasury bills maturing on June 14, July 1, July 26, and August 30, 2024, include pesos. Additionally, there will be three bonds denominated in pesos with maturities on March 31, 2024, adjusted by CER. 2025, March 31, 2026 and March 31, 2027. A dollar-linked Treasury bond maturing on June 30, 2025 will also be issued.

To offer these tools, there will be two categories: one competitive and the other non-competitive.. Offers made in the competitive category must follow the following criteria:

  • For LECAPs, they shall indicate the amount of VNO to be subscribed, which VNO shall exceed $50,000,000 and the instrument shall be capitalized as a percentage number with two decimal places in increments of 0.01 decimal places. shall not be less than the details in the table below;
  • For BONCER, they must specify the amount of VNO to be subscribed, which VNO must exceed $50,000,000 and the price for each VNO must be $1,000 with two decimal places;
  • In the case of Linked Dollar Bonus, they must specify the amount of VNO in USD to be subscribed, which VNO should exceed USD 50,000 and each VNO should be worth USD 1,000 with two decimal places.
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In non-competing tranches, only one offer per investor will be accepted and it must have a VNO of less than or equal to $50,000,000 for instruments denominated in pesos and a VNO of less than or equal to USD 50,000 for the instrument. Dollars are quoted in pesos, and only the amount to be subscribed must be entered.

Interested persons or legal entities may participate in LECAP, BONCER and BONO DOLLAR linked subscriptions, and for these purposes they must express their interest in time through clearing and settlement agents (integrated and owned) and payment agents with CNV.

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