Overview
- The new Bonar under local law matures on November 30, 2029, pays a 6.5% semiannual coupon, and returns principal in full at maturity.
- Offers will be taken on Wednesday, December 10 from 10:00 to 15:00 with settlement on Friday, December 12, according to the Finance Secretariat.
- Markets welcomed the move as sovereign dollar bonds rose, the country risk gauge fell toward roughly 620 basis points, and local dollar quotes eased.
- The sale is paired with contingency liquidity that remains available, including a repo facility with banks for up to US$7 billion and a US Treasury swap line of US$20 billion with US$2.5 billion already activated.
- Analysts differ on likely size and yield—many point to roughly US$1.5–2.0 billion at high‑single‑digit to low‑double‑digit returns—and warn coupon payments could weigh more visibly on 2026 public accounts compared with recent capitalizable debt.