Results of the First Auction of BOPREAL Series 2

The first auction of BOPREAL Series 2 concluded today. Three hundred and forty-nine bids were submitted and awarded for a total nominal value of USD271 million.

Only micro-, small- and medium-sized enterprises (MSMEs) were eligible to participate in this first auction. BOPREAL Series 2 will be auctioned weekly for up to a total nominal value of USD2,000 million. As from the next auction to be held next week, all importers that have outstanding debts registered in the Registry of Commercial Debt from Imports Owed to Foreign Suppliers will be eligible to participate.

In the event that the demand for BOPREAL Series 2 in any auction exceeds the maximum issuance amount, the bonds will be awarded giving priority to the first USD500,000 (nominal value) demanded per company in said auction, the remaining amount being awarded pro rata based on the amount demanded.

In answer to interested parties' concern about the possibility of selling in advance the securities subscribed in a primary auction, the BCRA has established that BOPREAL Series 2 may be traded on the stock exchange and the stock market, like Series 1 and 3.

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 8, 2024