This Tuesday, the Government made the payment of more than US$1.5 billion to bondholders, using Central Bank reserves. This disbursement corresponds to the interest on the bonds arising after the debt restructuring carried out by the Minister of Economy, Martín Guzmán, in 2020. This is the first payment to creditors of the 2024 debt, mainly in the hands of private investors.
The bonuses paid are known as Bonares (AL) and Globales (GD), derived from the debt exchange during the government of Alberto Fernández. The coupons paid vary depending on the maturity period, ranging between US$0.5 and US$2,125 for each US$100 sheet held by investors.
Courtesy TN.
This disbursement will not be the only one in 2024; Another payment is expected in July for a total of US$2.78 billion, including capital repayments. Although debt maturities for this year are relatively low, a significant increase is expected from 2025.
The Government, facing the delay in the agreement with the IMF and without new financing, used reserves to meet these commitments. He announced the placement of a non-transferable bill to the Central Bank for US$3.2 billion, thus using a large part of the available reserves.
This resource could also dto partially pay the US$1.9 billion that are due with the IMF, postponed until the end of the month.
Investors with these bonds in their portfolios will receive dollars based on their position. To maximize your investments, They suggest the reinvestment of coupons in the same bonds, betting on economic stabilization. Alternatively, you can consider applying dollars toward corporate debt in foreign currency, such as YPF 2025 (YCA6O), which offers higher returns.
With information from TN