Economy Seeks to Renew 8.4 Trillion After Successful Auction
The Ministry of Economy must renew maturities amounting to 8.4 trillion. This Monday, the menu of bonds for investors will be announced, prioritizing the extension of terms at the lowest possible rate. Moody's raised the rating of Argentine bonds to B3 with a positive outlook, improving market conditions. CEPEC highlighted that this aligns with the three main international rating agencies, facilitating the entry of new institutional investors. In the foreign exchange market, stability prevailed last week, with the Central Bank intervening in the official market at a slower pace. The Lelink exchange eased short-term maturities, allowing the Treasury to exchange 45% of a maturity of dollar-linked Letters (Lelink) for 4 billion dollars. The operation involved the LELINK D31L6, maturing on July 31, 2026, receiving 315 offers totaling 2.087 billion dollars and awarding 1.895 billion. More than 90% of the demand was concentrated in the short option to August (D31G6). The Ministry is expected to include the Bonar 2029 (AO29) in the offer, which in the first call placed 620 million dollars at an effective annual rate of 8.29%.
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