The Secretariat of Finance awarded US$700 million in dollar bonds and $8.11 trillion in peso debt during the April 28 auction, achieving a 102.15% rollover. This includes a 1.5-year extension in portfolio duration. An additional US$200 million is expected on Wednesday in a second round.
The Secretariat of Finance reported that on Tuesday, April 28, it awarded $8.11 trillion in peso debt after receiving offers for $9.19 trillion. This represents a 102.15% rollover over the day's maturities and a 1.5-year extension in the auction+exchange portfolio duration.
In dollar bonds, US$350 million of AO27 were placed at 5.16% TIREA and US$350 million of AO28 at 8.77% TIREA. There were also title conversions for US$336.21 million and peso values.
Nau Bernes, CEO of Questeus Advisory, stated: “I think there's not enough talk about how valuable it is to stretch the Treasury's maturity duration.” Meanwhile, Hernán Letcher, director of CEPA, warned of low net indebtedness that might be manipulated, very high rates validating premiums over the secondary market, and FGS/BCRA support, facing a $240 trillion wall until elections.
Finance announced a second round for AO27 and AO28 bonds on Wednesday until 1 pm, for an additional US$100 million in each tranche.
