The Ministry of Treasury reports it awarded all of the offered Fixed-rate Peso Treasury Bonds due on November 2020 (BOTE 2020) for a total of ARS 5.9 billion, nominal value, the cut-off price was ARS 1,000 for every ARS 1,000, nominal value, which represents a Nominal Annual Rate of 26.35% and an Annual Effective Internal Rate of Return of 28.09%. The total amount issued of these instruments, including the amount sold at this auction, is ARS 124.8 billion.

The Ministry received a total of 24 purchase orders.

The modernization of Line D of Buenos Aires subways will increase the frequency of its service and will benefit 577,000 users per day

The Argentine Ministry of Treasury and the European Investment Bank (EIB) signed a Guarantee Agreement for the USD 104-million loan with sovereign guarantee for the implementation of the Project to modernize Line D of the subway network of the City of Buenos Aires, aimed at mitigating the current metropolitan mobility issue.

The total investment in the first stage will be USD 264.75 million (USD 160.75 million contributed by SBASE) and it will be aimed at the implementation of a new management system for the circulation of trains, the readjustment of the power system and improvements in the accessibility, signaling and traffic in the stations.

The meeting, at which the subscribed original documents were delivered, was attended by the Undersecretary of International Financial Relations of the Ministry of Treasury, Martín Soto; the director of operations with Global Partners of the EIB, María Shaw-Barragan; and the deputy adviser of Operations in Latin America and the Caribbean of the EIB, Susan Antz. The parties addressed the importance of this first Sovereign Guarantee Agreement for the Government of the City of Buenos Aires as a demonstration of support for the joint administration of transport and for the diversification of the investment sectors, fostered by the European financing.

The EIB has become a strategic partner for Argentina for the development of investment projects in energy, water and sanitation, management of urban waste, SMEs and transport, among other sectors. The closing of this operation is part of the current portfolio of ongoing projects with the Bank for a total of USD 195 million. The programs include the following: “Financial support for SMEs”, “Comprehensive management of solid urban waste (GIRSU Jujuy)”, “Drinking water and sanitation for the metropolitan area of the City of Buenos Aires (AYSA)”, among others. All of them are organized under a co-financing scheme with important international credit organizations.

The Ministry of Treasury reports it received USD 703 million, nominal value, in offers for LETES due on July 26, 2019 and USD 368 million, nominal value, in offers for LETES due on December 20, 2019.

For 63-day Letes, the Ministry sold USD 600 million, nominal value, the cut-off price was of USD 993.14 for every USD 1,000, nominal value, which represents a Nominal Annual Rate of 4.00% and an Annual Effective Internal Rate of Return of 4.07%. The cut-off price offers were distributed on a pro-rate basis by a factor of 67.9188512425703%. The total amount issued of these instruments, including the amount sold at this auction, is USD 1.3 billion.

For 210-day Letes, the Ministry sold USD 300 million, nominal value, the cut-off price was of USD 965.48 for every USD 1,000, nominal value, which represents a Nominal Annual Rate of 6.21% and an Annual Effective Internal Rate of Return of 6.30%. The cut-off price offers were distributed on a pro-rate basis by a factor of 73.2103761389198%.

The Ministry received a total of 7,719 purchase orders.

The Ministry of Treasury, Nicolás Dujovne, and the Undersecretary of International Financial Relations, Martín Soto, welcomed the delegation of Eximbank China led by its Vice President, XIE Ping, within the framework of the plan to strengthen the bilateral financing and cooperation relation with the People’s Republic of China.

At the meeting, different investment projects were analyzed, both at a national and a provincial level, in order to evaluate the feasibility of new credit lines at competitive rates that enable the development of key sectors for the sustainable socio-economic growth of the country, such as energy, transport, environment, water and sanitation.

At the end of the meeting, the officials ratified their shared interest in continuing strengthening their bonds towards an equitable growth for both countries within the framework of the renewed Joint Action Plan 2019-20203, signed by the corresponding governments on December 2, 2018.