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.

Ministry of Economy tenders two new Lebad series

The Ministry of Economy will tender today two new series of Treasury Bills in pesos at Badlar rate (Lebad), one expiring at 120 days and the second one at 180 days, as part of its debt management scheme seeking longer terms and lower rates. Four tenders of Treasury Bills in Pesos were also confirmed on February 3, 11, 20 and 26 as part of the government plan to "normalise the local debt market."

Argentina swaps $1.66 billion of Treasury bills to ease payment crunch

Argentina has exchanged five Treasury bills (Lecap) with an original face value of ARG$99.6 billion ($1.66 billion) in a debt swap auction to help push back its repayment schedule. The economy ministry held the auction on Monday of two new peso-denominated bills (Lebad) which will mature on Sept. 18 and Dec. 22. The new debt will have a nominal value of ARG$83.35 billion ($1.39 billion) with all payments on the debt being due on maturity.