Government Swaps Nearly $1.84 Billion in Pesos Debt Tied to Inflation

The portfolio led by Martín Guzmán managed to exchange, in a bidding process, Treasury Bills (LETES) in dollars (94% of the exchange) and the Dual Bond (AF20) (6% of the transaction) in exchange for securities in pesos maturing between 2022 and 2024, with interest rates between 1.2% and 1.5% above the Reference Stabilization Coefficient (Boncer). The debt for the foreign currency assets, in private hands, accumulated close to $3 billion. The privately held assets that entered into the swap represented almost 5% of the amount of foreign debt under New York law that is being restructured.

Source: Ámbito