Government gets AR$294.5 billion in March’s last bond auction

The Finance Secretary said the offers were double the maturities

The Economy Ministry obtained AR$294.5 billion in today’s bond auction, ending March with net financing of AR$69.12 billion.

“We want to highlight and thank the important support represented in the 2,036 received offers,” tweeted Finance Secretary Eduardo Setti. “They are two times the maturities that we had to face.”

According to the Finance Secretariat, investors offered AR$558.59 billion (US$2.65 billion at the official exchange rate or US$1.43 billion at the MEP dollar rate).

For the auction, the Ministry offered seven financial instruments. The government issued a LELITE, exclusive for investment funds, that matures on April 28, and re-opened four other bonds – two discount bonds, S30J3 and S31L3, which mature on June 30 and July 31 respectively, and two inflation-adjusted bonds, X18L3 and X18S3, that mature on July and September 18 respectively.

The Ministry also re-opened two other US dollar-adjusted bonds: the T2V3D, which matures on July 31, 2023 and the TV24D, which matures on April 30 2024. 

According to Setti, “41% of the financing was made up of official rate-adjusted instruments, 31% of fixed rate instruments and the remaining 28%, of inflation-adjusted instruments.” He also said that 62% of the financing was obtained through instruments that mature this year, and the remaining 38%, through bonds that mature in 2024.

The next bond auction is scheduled to take place on April 19.


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