The Ministry of Finance announced today that a bidding process and a conversion will take place to renew commitments next Wednesday, January 29. The announcement includes the bidding for LECAP, BONCAP, and BONCER, as well as the exchange of BONCER T2X5, under Article 2º of Decree 846/2024.
According to the Ministry of Finance in a statement, the process for receiving bids for all instruments will begin at 10:00 AM and end at 3:00 PM on January 29, 2025. The settlement of the received and awarded bids is scheduled for Friday, January 31, 2025.
The exchange proposal is directed at the holders of the Boncer T2X5, which matures on February 14. They are offered to convert this bond at a market price, which will be announced prior to the opening of the conversion, in exchange for a new Lecap maturing on November 10 of this year.
In this regard, the Secretary of Finance, Pablo Quirno, detailed that a maximum placement amount has been established for the Lecap maturing in November, which amounts to $4 trillion.
