The BCRA Awarded Bids for BOPREAL Series 3 for USD113 Million (NV) at a New Auction, and Is Assessing the Chance of Extending the Subscription of this Series for the Payment of Profits and Dividends to Non-Residents

The BCRA awarded bids for BOPREAL Series 3 for a nominal value (NV) of USD113 million at the sixth auction. One hundred and forty-seven bids were submitted and awarded, reaching an aggregated amount of USD1,197 million (NV).

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.

The auctions of Series 3 bonds have been opened to all importers with outstanding debts incurred until December 12, 2023, regardless of whether they have registered their debts in the Registry of Commercial Debt from Imports Owed to Foreign Suppliers or not.

The BCRA is assessing the chance of extending next auctions' subscriptions to companies so that they may transfer profits and/or dividends in foreign exchange to non-resident shareholders. This decision has required the prior approval of the BCRA to access the Free Foreign Exchange Market (Mercado Libre de Cambios, MLC) since September 2019. The next auction is expected to take place during the week of May 6.

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.

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

April 25, 2024