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Last Call for Bidding BOPREAL Series 1 with Benefits for Importers Subscribing in the Primary Market

The BCRA (Central Bank of the Argentine Republic) has announced that the last auction of BOPREAL Series 1 (Bond for the Reconstruction of a Free Argentina) will take place on January 30 and 31. This auction presents a final opportunity for interested parties to participate in the issuance of BOPREAL Series 1 bonds.

To date, BOPREAL Series 1 bonds have already been awarded for USD4,096 million (NV) out of a total regulatory amount of USD5,000 million (NV). This means that there is a remaining amount of USD904 million (VN) available for subscription in this final auction.

Importers who choose to subscribe to BOPREAL Series 1 before January 31 will enjoy several benefits. Firstly, the amount subscribed will not be subject to the Tax for an Inclusive and Solidary Argentina (Impuesto Para una Argentina Inclusiva y Solidaria, PAIS). This exemption provides importers with a cost-saving advantage.

Furthermore, importers who subscribe to BOPREAL Series 1 for at least 50% of their debt will gain eligibility to access the forex market starting from February 1, 2024. They will be able to access up to 5% of the amount subscribed. This opportunity allows importers to manage their foreign currency needs more effectively.

In addition, importers who subscribe to BOPREAL Series 1 have the option to repay the remaining stock of debt using foreign currency proceeds from exports. This repayment can be made from March 1, 2025, in monthly installments of up to 10% of the subscribed amount. Importers can also choose to pay off 10% of their debts ahead of time if they collect in advance the proceeds from exports that would otherwise be received as from March 2025. This flexibility in debt repayment provides importers with greater control over their financial obligations.

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Importers who subscribe to BOPREAL Series 1 with a subscription amount less than 50% but equal to 25% of their debt or higher will also benefit. They will be allowed to pay off their debts, for which no bond is subscribed, using up to 50% of the foreign currency proceeds from exports collected from March 1, 2025. This arrangement provides importers with an alternative solution for managing their outstanding debt.

For importers who are interested in participating in the BOPREAL Series 1 auction, it is recommended to review the guide prepared by the BCRA. This guide provides detailed information on the requirements for subscribing to BOPREAL bonds and outlines the procedure for importers to participate in the auctions. It is essential to familiarize oneself with the guidelines provided by the BCRA to ensure a smooth and successful participation in the auction.

In conclusion, the last auction for BOPREAL Series 1 presents importers with a final opportunity to subscribe to these bonds. By subscribing before January 31, importers can benefit from exemptions on the PAIS tax and gain access to the forex market. The flexible repayment options and the ability to use foreign currency proceeds from exports further enhance the attractiveness of these bonds. Importers interested in participating in the auction should consult the BCRA guide for more information on the requirements and procedures. Don’t miss out on this chance to take advantage of the benefits offered by BOPREAL Series 1.

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