Argentina launches two new Letters of the Treasury

Alberto Fernández' administration will launch on Friday two new Letters of the Treasury in Argentine pesos, one expiring on April 3, 2020 that grants Private Badlar plus Margin, and another expiring on June 22 of next year, also with Badlar more 300 basis points. The new instruments follow the success achieved last week with the placement of Letters (Letes) for ARG$18.9 billion, at an annual nominal rate of 44.76% and an internal return of 49.80%.