VII.3 – Operation of Debt Exchange on 1 June 2001 Included in the Second Quarter 2001
During the second quarter, the government carried out a significant debt exchange transaction, authorized by Decree 648/01. The Finance Secretariat provided a timely report on the transaction. Nevertheless, and as has already been stated, this operation will be completed in the second half of the current year. The amounts exchanged at 30/06/01 are shown in the table below.
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RESULTS OF THE EXCHANGE |
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Operations realized at 30/06/01* |
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New Bonds |
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|
% of old bonds redeemed |
Residual Face Value |
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|
Bond Promissory Note 2006 |
New GL Peso 2008 |
New Global 2008 |
New Global 2018 |
New Global 2031 |
Total |
Bond Promissory Note 2006 |
New GL Peso 2008 |
New Global 2008 |
New Global 2018 |
New Global 2031 |
Total |
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|
Old Bonds |
Promissory Note |
BP E+600 |
20% |
45% |
64% |
161,40 |
366,10 |
527,50 |
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|
BP B+500 |
14% |
0% |
14% |
15,60 |
15,60 |
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|
BP E+521 |
35% |
57% |
92% |
409,25 |
676,57 |
1.085,82 |
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|
BP B+410 |
20% |
0% |
20% |
4,20 |
4,20 |
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|
BP E+400 |
35% |
47% |
83% |
142,00 |
188,26 |
330,26 |
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|
BP E+330 |
44% |
13% |
57% |
176,00 |
51,60 |
227,60 |
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|
BP E+580 |
71% |
29% |
99% |
850,00 |
343,00 |
1.193,00 |
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|
BP E+435 |
39% |
29% |
68% |
58,50 |
43,00 |
101,50 |
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|
Bocones |
Pre 4USD |
2% |
2% |
22,95 |
22,95 |
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|
Pro 2 USD |
25% |
25% |
191,08 |
191,08 |
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|
Pre 3 $ |
31% |
2% |
33% |
48,96 |
2,80 |
51,76 |
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|
Pro 1 $ |
40% |
22% |
61% |
729,40 |
400,80 |
1.130,20 |
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|
Pro 3 $ |
19% |
0% |
19% |
1,05 |
0,00 |
1,05 |
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|
Pro 4 USD |
9% |
9% |
109,68 |
109,68 |
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|
Pro 5 $ |
2% |
25% |
28% |
10,49 |
110,79 |
121,28 |
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|
Pro 6 USD |
18% |
18% |
125,88 |
125,88 |
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|
Der. Credit. |
100% |
100% |
103,03 |
103,03 |
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|
Other |
Bonex 92 |
22% |
22% |
95,16 |
95,16 |
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|
Hidro |
57% |
57% |
27,10 |
27,10 |
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|
RA $ 02 |
47% |
12% |
58% |
125,91 |
31,26 |
157,17 |
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|
RA $ 07 |
11% |
69% |
80% |
45,85 |
277,53 |
323,38 |
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|
FRN 04 |
3% |
20% |
23% |
10,00 |
59,10 |
69,10 |
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|
FRB |
22% |
22% |
775,07 |
775,07 |
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|
SPAN 02 |
12% |
12% |
18,37 |
18,37 |
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|
FRAN |
54% |
54% |
544,48 |
544,48 |
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Bontes |
Bonte 02 |
0% |
6% |
6% |
9,30 |
137,62 |
146,92 |
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|
Bonte 03 |
24% |
24% |
532,36 |
532,36 |
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|
Bonte 03 F |
30% |
36% |
65% |
221,69 |
267,62 |
489,31 |
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|
Bonte 04 |
40% |
40% |
916,71 |
916,71 |
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|
Bonte 05 |
37% |
37% |
1.017,25 |
1.017,25 |
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|
Bonte 06 |
67% |
67% |
1.744,06 |
1.744,06 |
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|
Bonte 27 |
87% |
87% |
972,13 |
972,13 |
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Global |
GL 03 |
9% |
9% |
181,13 |
181,13 |
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|
GL 05 |
5% |
5% |
46,39 |
46,39 |
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|
GL 06 |
6% |
6% |
77,80 |
77,80 |
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|
GL 09 |
19% |
19% |
336,57 |
336,57 |
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|
GL 10 |
14% |
14% |
139,93 |
139,93 |
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|
GL 12 |
42% |
42% |
670,96 |
670,96 |
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|
GL 15 |
62% |
62% |
1.499,76 |
1.499,76 |
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|
GL 17 |
45% |
45% |
2.071,95 |
2.071,95 |
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|
GL 19 |
88% |
88% |
1.257,04 |
1.257,04 |
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|
GL 20 |
87% |
87% |
1.091,92 |
1.091,92 |
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|
GL 27 |
72% |
72% |
2.539,75 |
2.539,75 |
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|
GL 30 |
81% |
81% |
1.009,50 |
1.009,50 |
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|
GL 31 |
99% |
99% |
1.159,77 |
1.159,77 |
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|
Long Bradies
|
Par |
18% |
18% |
867,99 |
867,99 |
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|
Disc |
27% |
27% |
400,18 |
400,18 |
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|
2.057,93 |
961,66 |
9.484,55 |
5.987,34 |
8.030,11 |
26.521,6 |
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|
Face Value of New Bonos |
2.060,31 |
930,80 |
10.841,96 |
6.367,38 |
8.516,74 |
28.717,2 |
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|
Price |
100,00 |
78,32 |
78,55 |
73,25 |
70,70 |
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*: Values in million pesos except when stated. |
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As a result of this debt exchange, eligible bonds were redeemed for a residual face value totaling 26,522 million pesos, and in exchange of these, new bonds were issued for a face value of 28,717 million pesos. Consequently the face value of the public debt increased by 2,196 million pesos.
