The Central Bank of Argentina (BCRA) held the second Series 3 auction of the Bonds for the Reconstruction of a Free Argentina (BOPREAL). Bids were received from 205 companies, all of which were awarded for VN USD 301 million. The aggregate amount of this series is VN USD 792 million.
In the following weeks there will be new tenders until the maximum amount of VN USD 3,000 million is reached. The Series 3 bonds are eligible for transfer and trading in the secondary market, bear interest at a rate of 3% N.A. and amortize in three quarterly installments, from November 2025 to May 2026.
Considering the slowdown in demand from importers with remaining debts (after subtracting, if applicable, the participation in the other available instruments) registered in the Register of Commercial Debts for Imports with Suppliers Abroad (PADRÓN), carried out jointly by the Secretariat of Commerce and the Federal Administration of Public Revenues (AFIP), the next Series 3 bids will be open to all importers with debts for imports of goods and services as of December 12, 2023, whether or not they have registered their outstanding balances in the PADRÓN. In the event that the demand for Series 3 in any tender exceeds the maximum amount to be issued, the award mechanism will be pro rata to the amounts demanded.
The BCRA has already placed the total amount of Series 1, for VN USD 5,000 million, and Series 2, for VN USD 2,000 million. On the other hand, around 4,700 MSMEs made import debt payments for a total of USD 167 million without the need to subscribe the BOPREALs. These are companies with debts of up to USD 500,000 registered in the PADRÓN and which will be able to pay in full in three months.
For requirements and procedures for importers to access these tenders, please refer to this guide prepared by the BCRA.
