The Ministry of Finance announced a new debt auction in pesos to be held next Wednesday, March 12. This time, a security that adjusts to the evolution of the official exchange rate is offered, indicating that the market is not seeking exchange rate coverage. The official exchange rate is expected to continue rising at a slower pace than other rates in the coming months.
Unlike the previous auction, this time it is not a short bond, but it matures after the legislative elections. Market analysts estimate that this instrument will not have high demand, which diminishes its appeal, according to a prominent City broker.
The reception of bids for all instruments will begin at 10 AM and end at 3 PM on Wednesday. There will be two segments for the submission of bids: one non-competitive and the other competitive. The non-competitive segments will be aimed at individuals who do not have the necessary expertise to evaluate financial conditions and require advice from a specialized entity.
The auction offers three Lecap maturing between April and July 2025, a Boncap maturing on January 30, 2026, two zero-coupon Boncer bonds maturing in October 2025 and March 2027, and a dollar-linked instrument maturing in January 2026. All of these are reopenings of previously issued instruments.
