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.