Argentina issues AR$9.2bn Treasury notes, swaps more AF20 dual bonds

The Ministry of Economy on Wednesday issued Treasury letters and bonds in local currency maturing in 2020 and 2021 worth AR $9.22 billion ($148.5 million). Of that amount, AR$2.36 billion correspond to Lebad bills maturing on August 28, and another AR$6.87 billion to a swap of the dual bond AF20 for another ones in pesos with Badlar rate plus 100 basis points. Argentina has already swapped 18% of the AF20 which was due on February 13 whose capital payout was postponed to Sept. 30.

Argentina swaps another $146mn of the Dual Bond AF20

The Ministry of Economy swapped AR$9 billion ($146mn) of the Dual Bond for securities nominated in pesos at a private Badlar rate plus surcharge with maturity on August 5, 2021. It also obtained AR$3.6 billion through the tender of Lebad letters with maturity on May 28 and August 28. Argentina decided to postpone to Sept. 30 the payment of the AF20 dual bond that matured on Feb. 13 after restructuring negotiations with the majority of bondholders failed.

Argentina scratches ~$1.6 bn (AR$96 bn) bonds sale on Monday

Argentine Economy Ministry has cancelled the tender of three peso-denominated bonds scheduled for issue on Monday aimed at raising AR$96 billion to pay the Dual Bond AF20 due on Thursday. Last week, the Government had achieved 10% of the bond total value ($1.64 b) through a voluntary exchange. In addition to the maturity of the AF20 bonds, on Thursday another AR$9.6 billion of Treasury Letter (Lecaps) are due.

Key week for Argentine sovereign debt renegotiation over $100 bn

A technical mission of the International Monetary Fund (IMF) arrives on Wednesday whose report will be a vital tool for reprofiling payments of $44 billion stand-by credit. That same day, the minister of economy, Martín Guzmán, will address Congress on his plan for "sustainable debt" renegotiation which also involves $67 billion owed to private bondholders. On Thursday, about AR100 billion of the AF20 Dual Bond mature.

Argentina announces voluntary debt swap for AR$105 billion

Argentina Ministry of Economy will open a tender for voluntary swap of the so-called Dual Bond 2020 with maturity on February 13 (AF20) and equivalent to AR$105 billion for new titles or a combination of bonds with maturity in 2021, according to a today publication in the Official Gazette. The Dual Bond, denominated in dollars but with interest payment in pesos, was issued in June 2018 and collected $1.64 billion.