The Ministry of Economy announced the issuance and offering of new national treasury bonds in US dollars, called Bonar 2029 nmaturing on November 30, 2029, and an annual coupon of 6.50%It is paid semi-annually. This measure was announced by the Minister of Economy Louis CaputoThis was during a television interview in which he confirmed that the tool will be used as part of the official strategy to confront future financial obligations.
The head of the Treasury Palace indicated that the government will proceed with a four-year proposal whose main goal is to obtain foreign currency resources to finance the obligations scheduled for the first months of the year.
As we explained, the bonds are part of a scheme that seeks to manage maturities without reducing the central bank’s international reserves. In this sense, Caputo indicated that part of the payments scheduled for January will be covered by the funds raised through this operation.
It must be taken into account that in January 2026, Argentina will have to face a large financial commitment to the Treasury in terms of sovereign debt, amounting to an estimated figure of 4.3 billion US dollars. This amount corresponds to debt service in foreign currency, specifically payments of principal and interest associated with bonds issued under international legislation resulting from the debt restructuring process.
“The idea is to pay January dues without reducing reserves,” Caputo said.
“This is particularly important for the country, because it will allow us to accumulate reserves, which implies improving the central bank’s balance sheet and continuing to reduce the country’s risks, continuing to lower domestic interest rates, and then allowing people to access credit at lower interest rates. It is very important to reduce the risks that the country faces, because that in turn attracts investments.”
Bonar’s financial conditions 2029N
According to official information issued by the Ministry of Economy, the bonds will be denominated in dollars and will have a value 6.5% annual couponWith semi-annual payments. Amortization will be made in one lump sum at maturity, scheduled to take place November 30, 2029. Subscription and payment must be made exclusively in dollars under Argentine legislation.
The Economic Portfolio explained that this tender comes in the context of reducing the yield rates of Argentine sovereign bonds in dollars. According to a report by the Ministry of Finance, this pressure is linked to the impact of the election result and the performance of the current economic program. In this scenario, the Treasury believes that it can expand its financial goals and cover maturities without affecting the central bank’s net reserves.
Financial strategy objectives
The Ministry of Economy explained that the official strategy seeks to begin the process of refinancing capital terms in the US currency through debt issuances that the market can absorb without straining the reserve position. According to the official report, the intention is for the central bank to be able to continue strengthening its balance sheet, so that foreign currency purchases effectively contribute to the net accumulation of reserves.
The funds obtained in this deposit will be used to pay off the corresponding capital dues Bonar 30 and Bonar 29scheduled for January 9, 2026. These bonds represent a large portion of the dollar obligations that the public sector must meet in the short and medium term. The possibility of refinancing these payments through new issuances forms part of the strategy to organize the maturity file and allow the treasury to avoid pressure on the exchange market.
Operational details of the tender
Bids for participation in the BONAR 2029N tender will be received at December 10, 2025between 10 am and 3 pmThis is in accordance with the timetable set by the Ministry of Finance. Prizes will be settled December 12the date on which the earned values will be credited and the corresponding payments will be made.
The tender will be divided into: Non-competitive section and Competitive sectionEach has specific rules.
In the non-competitive sectionParticipants must enter only the original nominal value (NOV) amount they wish to subscribe for. This method is intended for investors who do not have the technical ability to evaluate the financial conditions of the tender and seek advice from specialized authorities.
This group includes natural and legal persons not linked to the financial market, up to a maximum of VNO $50,000 per investorand the minimum width VNO $1000. Entities placing these orders may only charge a fee Display for CUIL or CUITIf an investor submits more than one, the second will be automatically ignored.
Mutual funds, public funds, insurance companies, depositories and other entities considered to be professional fiduciaries are excluded. They must only participate in the competitive section.
Competitive sectionOn the other hand, bidders are required to indicate the amount to be subscribed and the price of each VNO $1,000 USDexpressed in two decimal places. It is intended for those outside the non-competitive section who are offering amounts greater than VNO $50,000 USD. In this sector there will be no maximum limits on offers, they will be minimums VNO $1,000 USD.
Bonar 2029 may be offered within the maximum amount allowed by regulations, confirming the Treasury’s intention to increase dollar financing in the medium term.
In all cases, proposals must be directed through him Settlement and clearing agents (full or private) also Negotiating agents Licensed by the National Securities Commission (CNV).
Bonar 2029 features
The instrument to be issued requires the following conditions:
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Release date: December 12, 2025
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expiration date: November 30, 2029
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condition: Nearly four years
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Issuance, subscription and payment currency: US dollars
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interest: TNA 6.50%
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Consumption: Complete when mature
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Interest payment: Semi-annually on May 30 and November 30 of each year
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First coupon: Irregular, with payment on May 30, 2026
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Interest Calculation: 30/360 rule
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Minimum denomination: Vino US$1
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Negotiation: A3 Mercados SA and the country’s stock markets
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ownership: Global certificates in the name of CRYL of the Central Bank as the registration agent
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Tax exemptions: In accordance with current laws and regulations
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Interest in financial services: Through transfers made by BCRA’s CRYL
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Applicable law: Legislation of the Argentine Republic
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Placement price: To be determined during bidding
he Maximum amount to place From Bonar 2029 it will reach the limit allowed under current regulations, without a specific limit reported on this call.