The BCRA Awarded Bids for BOPREAL Series 3 for USD491 Million (NV) at the First Auction

The first auction of BOPREAL Series 3 bonds has concluded today. Two hundred and eighty bids were submitted and awarded for a total nominal value (NV) of USD491 million. This series will be auctioned weekly up to a total nominal value of USD3,000 million. This bond will accrue an annual interest rate of 3% and will be repaid in three quarterly installments, from November 2025 to May 2026. Series 3 may also be transferred and traded in the secondary market.

All importers that have outstanding debts registered in the Registry of Commercial Debt from Imports Owed to Foreign Suppliers—which has been jointly launched with the Secretariat of Trade and the Federal Administration of Public Revenue—may bid for the amount of their debts net, if applicable, of their subscription of the other available instruments. In the event that the bids for BOPREAL Series 3 exceed the maximum issuance amount, the bonds will be awarded pro rata based on the amount demanded.

The BCRA awarded all Series 1 bonds for USD5,000 million (NV) and all Series 2 bonds for USD2,000 million (NV). The BCRA allowed MSMEs to access the Free Foreign Exchange Market (Mercado Libre de Cambios, MLC) to pay off their registered commercial debts for up to USD500,000 in a staggered manner without subscribing BOPREALs. Since this option became effective, more than 3,300 MSMEs have repaid debts from imports for a total of USD131 million.

For more information on the requirements and procedures for importers to participate in the BOPREAL auctions, please see the guide prepared by the BCRA.

February 29, 2024