Results of the Second Auction of BOPREAL Series 1 Bonds

The second auction of the dollar-denominated securities called BOPREAL Series 1 which stands for Bond for the Reconstruction of a Free Argentina in Spanish has concluded today.

This time, all bids were awarded for a total nominal value of USD57 million.

The BCRA will continue conducting weekly auctions of BOPREAL Series 1 until the end of January 2024 or until the maximum issuance amount equivalent to the nominal value of USD5,000 million for Series 1 is auctioned. This is to provide an orderly solution to the bulky stock of debts from imports incurred before December 12, 2023.

BOPREAL Series 2 and 3 are expected to be auctioned as from February 2024. Issuance total amounts for these series will be limited, and the award mechanism will depend on the information of the registry of foreign commercial debts, prioritizing small- and medium-sized enterprises (SMEs) and production chain intermediate suppliers.

For more information on BOPREALs’ characteristics and operation, and on the importers’ procedure to participate in the auctions, please see the Guide for Importers published by the BCRA.

January 4, 2024