President Javier Milei took to social media to celebrate the announcement by Economy Minister Luis Caputo, who previously confirmed that Argentina is returning to the capital markets with 4-year bonds—maturing in November 2029—and a 6.5% coupon. In a post on his “X” account, Milei wrote: “VAAAAAAAAMOOOOOO TOTO…!!! We’re back in the capital markets with a 2029 bond at a 6.5% coupon under local law.” In the same post, he lavished praise on the head of the Treasury, whom he described as “the best of all time!” He noted that this is the first bond issuance under local law since January 2018. In another message shared on the same channel where Caputo gave an interview, Milei highlighted a post by advisor Felipe Nuñez: “The Secretariat of Finance announces a new auction for Wednesday, December 10: a U.S. dollar-denominated bond maturing 11/30/2029; 6.5% TNA coupon; bullet maturity; local law,” added Nuñez. “In a context of strong compression of U.S. dollar bond interest rates due to the election results and the performance of the economic program, the Treasury will seek to continue improving the maturity profile, this time on the hard dollar instruments curve,” Nuñez emphasized. Finally, the publication referenced by the head of state concludes: “This will allow for the continued strengthening of the Central Bank’s balance sheet, as all reserve purchases will not be used to honor debt obligations, and reserves can be accumulated, and it will lower the financial cost for companies and families. The proceeds from the auction will be used to pay the principal maturity of the AL30 and AL29 bonds that mature on 1/9/2026.” In statements to the press, Caputo explained: “This is not new debt. By refinancing maturities, every dollar purchased can be accumulated. It is to pay off old debt!!
