The Ministry of Finance announced a tender for adhesion with a bid for Eligible Title on Friday, January 24. The offers must indicate the amount of nominal value in pesos of the Eligible Title that they will deliver in exchange for the basket, as detailed by the agency.
A basket of capitalizable titles will be offered at a dual rate (the higher between BONCAP/TAMAR) with different maturities. The reception of bids will begin at 10 AM and end at 3 PM on January 24, 2025, with the aim of extending the duration of the titles in the hands of investors.
"The eligible bonds for conversion are Lecaps, Boncer, and Boncap that mature between May and November 2024. In exchange, the Government offers a basket of capitalizable titles at a dual rate maturing in March, June, September, and December 2026, with prices resulting in an average TIREA of 29.50% (fixed rate)," explained Pablo Quirno, Secretary of Finance.
Each of the four titles offered represents 25% of the proposed basket. The Government seeks the conversion of a series of titles in pesos maturing between May and November of this year for others maturing between March and December 2026.
Participants submitting bids will have until January 28 to transfer the total of their accepted Eligible Title from their account in the Central Registry and Settlement of Public Liabilities and Financial Trusts to the treasury. The settlement of the bids will take place on January 29, 2025, according to the Ministry of Finance.
