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In addition to the Letters it offers from today, the government has come out to offer the market a new number of a double link It will propose tomorrow and which announced today what will be its financial conditions.
The new bond is 19 months it is signed on July 13 and it will be liquidated on February 13, 2020.
It will be denominated in dollars, but will pay in pesos . And can be subscribed in one of two currencies at the official wholesale exchange rate of today (A 3500 Communication from the Central Bank).
The subscription will be done "au pair" and which is offered tomorrow is the monthly rate in pesos with intervals of 0.05 percentage points.
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Edenor and Ternium record the most significant advances in the local market Most PBI bonds and coupons also adjust positions.
At maturity, the bond will pay the best return between initial capital in pesos plus interest capitalized at the monthly rate determined by the offer and the nominal value issued in dollars plus an annual rate of 4.5% . In both cases, the settlement will be done in pesos.
Receipt of tenders will start tomorrow at 10 am and end at 15. There will be a competitive section (in which the monthly rate for the calculation in pesos must be indicated). with intervals of 0.05% and the amount to be subscribed expressed in nominal value in dollars) and a non-competitive tranche, for which only the amount to be subscribed in nominal dollar value must be recorded.
In transactions, they may participate natural or legal persons through liquidation and clearing agents (full and clean) and bargaining agents registered with the National Securities Commission.
Tomorrow is not the first double bond offer: just a little under months, the government placed US $ 2 billion in a title that expires in 2019 at a rate of 2 , 4% per month which equates to an annual effective internal rate of return of 32.92% (the bonus will pay
By the way, to the Letters of which it makes the offer today and tomorrow the Ministry of Finance and Finance will grant them the same rate in pesos or 4.5% per annum in dollars, whichever is higher, put a maximum price which implies a nominal annual rate at least 4% for the security at 210 days and at least 4.5% for the one that matures in 378 days.
With the offer of this type of Government seeks to offer investors options so that, if they leave Lebac, they do not go on the bank note, which would put upward pressure on the bank. Foreign exchange.
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