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."