He Banco Supervielle had to leave on Friday a debt issuance in dollars that was carrying out In the local square After receiving an “official suggestion” To do so, the agency has just revealed Bloomberg.
The order in this regard came from the “money table” of the Central bank (BCRA) “to avoid pressure on the exchange rate” or subtract potential demands to the issuance of new bopreal bonds that prepares, and could underway next week, to remove some more weights from the market.
In fact, the parallel issuance that the bank carried out a title in pesos followed its normal course allowing it to take $ 43.2 billion at a variable rate that starts from 34% annual nominal (Tamar) plus a differential of 3.5 points.
The “suggestion” came in the middle of the wheel when the Supervielle had already begun to receive purchase offers for the negotiable obligation (ON) in dollars that it offered to attract dollars and to win in just six months. He proceeded to reject them …
The entity had been launched to the market after verifying that 48 hours ago the Bank of Galicia had managed to capture US $ 128 million by issuing a paper similar to an annual nominal rate of 0%. That is, without paying interest, and change to return exactly the same amount on November 28, 2025, that is, six months.
The nation He was able to confirm the species in market sources and even verify that the offer had been loaded in the electronic open market (MAE) systems. But the efforts to obtain responses from the BCRA in this regard were unsuccessful.
In turn from the Supervielle Bank They said they would not make “comments,” after receiving the relevant consultation.
As he collected Bloombergin the opinion of the BCRA officials the issuance of debt could generate pressure in the parallel exchange rate, thus expanding the exchange gap and thus giving “incentives to natural persons to buy dollars in the official market of changes”.
But, fundamentally, it affects the demand of the Bopreal, previously mentioned, since from the BCRA they detected that appetite in the companies that still have currencies still trapped in the stocks by this type of bonds to turn currencies abroad via cable. “They resort to this type of placements in conditions that are very favorable to not have to wait for the deadlines for those charges that the subscription of the official role would mean.
