The BCRA Awarded Bids for BOPREAL Series 3 for USD301 Million (NV) at the Second Auction

The second auction of BOPREAL Series 3 bonds has concluded today. Two hundred and five bids were submitted and awarded for a total nominal value of USD301 million, reaching a total aggregated amount of USD792 million (NV).

This series will be auctioned weekly up to a total nominal value of USD3,000 million. This bond may be transferred and traded in the secondary market. It will accrue a rate of 3% APR and will be repaid in three quarterly installments, from November 2025 to May 2026.

Considering the slowdown in demand from importers that have outstanding debts (net, if applicable, of their subscription of the other available instruments) registered in the Registry of Commercial Debt from Imports Owed to Foreign Suppliers, the upcoming auctions of Series 3 bonds will be open to all importers with debts incurred until December 12, 2023, regardless of whether they have registered their outstanding debts in the Registry or not. This Registry has been jointly launched by the Secretariat of Trade and the Federal Administration of Public Revenue. 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). In addition, around 4,700 MSMEs have repaid debts from imports for a total of USD167 million without subscribing BOPREALs. These MSMEs have registered commercial debts for up to USD500,000 and may pay back their debts in full in three months.

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

March 7, 2024