Two weeks ago, the country focused on the expiration of almost 600,000,000,000 pesos that the leader of the Ministry of Economy, Martin Guzman, and his team should refinance, which is why it was decided to call for an early exchange of the two letters that encapsulate a large percentage of that capital. The end? Unpack end-of-month payments.
The conversion led by the economist will take place today. This move by Martin Guzman seeks to transmit calm and stability to the market by trying to direct the financial program for the remainder of the year.
First and second round
And it is that a bad result on the part of the policy implemented at the hands of Martin Guzman could add pressure to the financial dollar. Today, Wednesday, between 11:00 a.m. and 4:00 p.m., all Ledes S30J2 and Lecer X30J2 holders will have the opportunity to enter this bond exchange and convert their bills for others of the same type, but in the short term.
Source: (Public Television News)
Tomorrow the same activity will take place between 10:00 and 12:30. The banks and Alyc that belong to the Market Makers Program will participate there. The maturity of the Ledes in question is for 222,867,000,000 pesos and that of the Lecer, for 338,983,000,000 pesos. The only objective of this decision is to be able to refinance part of the conversion that will take place next week, of which 40% belongs to the public sector.
In this exchange, which will be supervised by the secretary of state, those who have LEDs will be able to opt for two baskets at a fixed rate: the first contains bonds that expire during the last quarter of this year; the second has been offering them since August with a current nominal rate (TNA) of 56.68%. In the first case, the TNA is 57.92%.
In the case of Lecers, they can also be exchanged twice: the first contains Lecer bonds from October to January, with an average real rate of 3.39%; on the other hand, from August to December. The yield on the latter is 0.35% plus CERs, which are adjusted for inflation.