BCRA Announces the Auction Schedule for BOPREAL Series 2 and 3

The BCRA announces that the schedule for upcoming auctions of BOPREAL Series 2 and 3 will start next week after having placed the whole Series 1 for USD5,000 million (nominal value).

Schedule and Award Mechanism for Series 2

BOPREAL Series 2 will be auctioned weekly for up to USD2,000 million (nominal value). The first auction will be held next week, and only micro-, small- and medium-sized enterprises (MSMEs) registered in the Registry of Commercial Debt from Imports Owed to Foreign Suppliers will be eligible to participate. The remaining auctions will be open to all other importers having recorded their debts in the Registry.

In the event that bids for BOPREAL Series 2 exceed the maximum amount auctioned, USD 500,000 (nominal value) will be awarded to each bidder, the remaining amount being awarded on a pro rata basis.

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

Schedule and Award Mechanism for Series 3

BOPREAL Series 3 will be auctioned weekly for up to USD3,000 million (nominal value) once the whole Series 2 has been placed. All importers having recorded their debts in the Registry 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 amount auctioned, awards will be made on a pro rata basis.

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

February 2, 2024