Government uses ANSES to renew debt maturity

The government depends on ANSES and the National Bank to renew part of the $ 2.5 billion expiring on Friday in peso and dollar denominated debt. The Ministry of Finance must renew its debt to put an end to the fall in international reserves, which risks undermining an already weakened peso. The results of the issue will be known after the market closes on Wednesday.

ANSES would renew nearly 700 million dollars to Letes and 3,000 million pesos to Lecaps, as confirmed by a person familiar with the case. Bloomberg. A week ago, the Treasury placed Letes with a yield of 7%, against more than 20% in the secondary market.

At this auction, held the week after the STEP that had caused a slowdown in the market, the government had excluded the sale of letters with longer terms.

For its part, Banco Nación, through its Pellegrini fund, has an additional 3.8 billion pesos in Lecaps and $ 5 million in letters, according to data collected by Bloomberg until 19 July. The press office of Anses and Banco Nación did not immediately respond to a request for comment.

In Letes' latest call for tenders, the Treasury managed to transfer only 43% of the debt, and had to cancel the rest with USD 500 million. The authorities could place a higher percentage this time, but this would require corresponding secondary market rates of 20% in Letes and 70% in Lecaps.

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