The Economy Ministry raised Ar$82.634 billion ($940.02 million) in a tender of two Treasury bills and an Argentine peso bond, an amount higher than the debt maturing in the first half of the month, so it began February with extra financing of Ar$31.934 billion ($363.27 million).
Day: February 4, 2021
Automotive production rose 17.5% in January
Vehicle production in January was 24,308 units, which represents an increase of 17.5% over the same month of 2020, while exports grew 37% in the same period, equivalent to almost 50% of the month's production, reported yesterday the Association of Automotive Manufacturers (Adefa).
Argentina has agreements for 62 mn doses of vaccines
Health Minister Ginés González García said that Argentina has signed contracts for the provision of some 62 million doses of Covid-19 vaccines. 30 millon doses of the Russina Vaccine (Sputnik V), 22.4 million from AstraZeneca, plus a negotiation for another 1.2 million of the same vaccine and 9 million from the Covax mechanism. According to the minister, those supplies would be enough to immunise Argentina's entire population over the age of 18.
Fitch downgrades Telecom Argentina’s ratings; placed on negative watch
Fitch Ratings has placed Telecom Argentina S.A.'s 'B-' Long-Term Foreign Currency Issuer Default Rating (IDR) on Rating Watch Negative (RWN), and has downgraded the Long-Term Local Currency IDR to 'B' from 'B+'. These downgrades reflect increasing government interference in the company's operations.
Mixed response to YPF’s $6.2 bn debt restructuring offer
Creditors of Argentina’s state-run oil company, YPF SA, are sending mixed signals as one group of bondholders rejected the company’s latest debt restructuring plan while another voiced support. The YPF Ad Hoc Bondholder Group, which says it holds 45% of YPF’s bonds maturing in March, said it wouldn’t tender its bonds in the company’s debt swap. A second committee of creditors, led by law firms Dechert LLP and DLA Piper, said it supported the company’s offer. Bondholders have until Friday to accept YPF’s proposal to exchange $6.2 billion of existing debt for three new bonds and a cash sweetener.
