Second stage
Economy Ministry says bonds swap offers will be accepted until Monday
Economy Minister Amado Boudou announced that those interested in the second part of the inflation-indexed CER bonds swap will have to make their offer between Friday and Monday, this time it includes the BODEN 2014 and guaranteed loans which were not part of the first swap.
The government continues with its plan to eliminate those controversial inflation-indexed CER bonds which are linked to the official inflation. The swap also includes Pre-9 and PR12 paper and it will be a financial operation of 9,000 million dollars.
Boudou added that the government still handles the debt liabilities so to have a "better performance" in the public finance, "eliminating the debt of those bonds which expire in 2010, 2011 and 2012."
The new instrument during both parts of the swap is the bond or promissory note named- Bocan 2015-in pesos at BADLAR valuation (the average of the valuations which are paid by the private banks for more than 1 million deposits), plus 275 basic points expiring in 2014.
The Minister said that with the swap operation the government pretends to "continue handling the expirations profile" which "had strongly improved since 2003."
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