Overview
- Economy Ministry placed the Bonar 2029N for USD 1,000 million after receiving more than 2,500 offers totaling over USD 1.4 billion.
- The bond priced near a 9–9.25% yield with a 6.5% coupon under local law, confirming a single‑digit cost for new hard‑currency debt.
- The proceeds cover roughly a quarter of January’s USD 4.2–4.5 billion maturities, leaving substantial rollover needs in the coming weeks.
- Pre‑auction caution persisted as the S&P Merval fell about 2% and country risk hovered near 634 basis points, while market reports said the Treasury recently sold dollars to meet FX demand.
- The government permanently cut soybean export duties from 26% to 24% to encourage foreign‑currency inflows during a seasonally tight period.