Buenos Aires — The Argentine Central Bank made the new repo loan official that agreed with international banks to obtain the dollars that the Government of Javier Miley to face the debt maturities this January 9. Through a statement, he revealed that the Banks will lend you US,000 million at a rate equivalent to 7.4%.
These dollars that the banks provideadded to the US$1,689 million that the Treasury had in its account at the BCRA on January 2 (latest official data available) and the funds provided by the privatization of the Comahue dams, will allow the Government’s economic team to meet the debt payments of US$4.2 billion that Argentina faces this Friday, of which US$3.7 billion correspond to private bondholders.
It is about the third repo loan that Argentina negotiates with private entities in the last yearafter having received US$1,000 million in January and US$2,000 million in June of last year.
SEE MORE: BCRA reserves rise due to new purchases and entry of privatization dollars
The conditions of the new repo
As detailed by the Central, this new loan was arranged with six leading international banks, which will receive Bonares 2035 and 2038 as guarantee. “This operation is part of the set of measures implemented by the BCRA since the beginning of the administration, aimed at strengthening the country’s international reserves,” he indicated.
The operation, which was completed this Monday, is finalized for US$3,000 million, with a term of 372 days, despite the fact that the banks had sent offers for US$4,400 million. For this transaction, the BCRA will pay a interest rate equivalent to the SOFR in US dollars plus a spread average of 400 basis pointswhich is equivalent to a rate of 7.4% annually.
“The strong interest shown by the main international banks strengthens the normalization process in access to credit markets, in line with the drop in country risk that accompanies consistent and sustainable macroeconomic ordering,” the statement highlighted.
“This new repo operation ratifies the BCRA’s ability to access financing instruments under market conditions and efficiently manage its liquidity in foreign currency, reinforcing the solidity of its balance sheet and the country’s international reserve position,” he added.
He The economic team had been negotiating for months with international banks to finalize the loan announced this Wednesday.as anticipated Bloomberg Line last November 19.
The loan with international banks, indicated days later by the Minister of Economy, Luis Caputo, was one of the ways that the Government was studying to guarantee January debt payments, along with the possibility of reissuing debt in international markets.
However, in recent weeks Caputo himself denied that he was analyzing placing debt in international markets to meet this Friday’s payment and even outlined a horizon in which he explained why, in his opinion, Argentina should eliminate dependence on Wall Street.
After the announcement, the sovereign bonds in Argentine dollars issued under foreign law rose at 10:00 (local time) between 0.35% and 0.7% along the entire curvein line with the upward behavior exhibited by the debt of Brazil, Colombia and Mexico, with average increases of 0.3%.
SEE MORE: Caputo puts cold clothes on the return to the international market to renew January maturities
Higher amount, lower rate
This new repo, third in the last year, was completed for a higher amount and a lower rate than previous loans.
The first repo, made official in January 2025, agreed on a rate of 8.8% per year (SOFR rate and spread of 4.75%). This operation, initially managed at the end of 2024 and formalized in January, was for an amount of USD 1,000 million with the objective of meeting the capital and interest payments of the sovereign bonds for that month.
The second repo, completed in June 2025, agreed on a rate of 8.25% per year (SOFR rate and spread of 4.5%). On that occasion, the amount amounted to US$2,000 million from a consortium of international banks, using BOPREAL Series 1-D bonds as collateral.
