Day: July 6, 2020

Sancor will have access to working capital for $21.26 million

The reactivation plan of the dairy cooperative SanCor is already underway, in the coming weeks will be established a trust through the Bank of Investment and Foreign Trade (Bice) with which the firm would access working capital of 1.5 billion pesos ($21.26 mn). The company currently processes about 650,000 litres of milk per day and expects in the medium term to bring that figure to 800,000 litres. The final plan is to reach in 2021, the 1.5 million litres per day.

Government presents improved debt offer at SEC today

The government is today submitting an amendment to the offer to restructure public debt in foreign currency under foreign legislation. The subscription period will expire on August 4 of this year. The Net Present Value (NPV) of the bonds offered ranges from 52.4 to 55.4 per $100 with new maturities in 2030, 2035 and 2046. The Discount bond yields a NPV of 61.8.

Retail sales fell 34.8% in June

Retail sales in small and medium enterprises (SMEs) fell 34.8% compared to the same month in 2019. In the Metropolitan Area of Buenos Aires, the fall was 49.3%, the rest of the country the fall was 20.3%. The gap is explained because in rural municipalities, with controlled cases of Covid-19, began the flexible quarantine.