Wednesday, December 31, 2014
Gov't takes US$13bn from Central Bank for debt payments
The Economy Ministry has emitted two Treasury titles worth almost 13 billion dollars, which will be suscribed to wholly by the Central Bank, according to an announcement released in the Official Gazzette.
The two bonds will be used in order to service debt payments with international financial organisations, as well as bolstering the Argentine Debt-cancelling Fund.
One of the titles, worth US$3.04bn, will pay the Central Bank an interest rate equal to what the entity's reserves yield in the same period up to the annual Libor rate, minus one percentage point.
The note has an emission date of August 25 2014 and expires on the same date in 2024, with the entire sum payable at that point.
The second title, worth US$9.85bn takes the same form, but with an emission date of January 30 of this year. The funds have been earmarked for the servicing of public debts to private creditors, according to the text of the resolution signed by Economy minister Axel Kicillof.
In the event of funds being left over from debt payments, they would be used to finance capital expenses
The two bonds will be used in order to service debt payments with international financial organisations, as well as bolstering the Argentine Debt-cancelling Fund.
One of the titles, worth US$3.04bn, will pay the Central Bank an interest rate equal to what the entity's reserves yield in the same period up to the annual Libor rate, minus one percentage point.
The note has an emission date of August 25 2014 and expires on the same date in 2024, with the entire sum payable at that point.
The second title, worth US$9.85bn takes the same form, but with an emission date of January 30 of this year. The funds have been earmarked for the servicing of public debts to private creditors, according to the text of the resolution signed by Economy minister Axel Kicillof.
In the event of funds being left over from debt payments, they would be used to finance capital expenses
Keine Kommentare:
Kommentar veröffentlichen