Argentina secures $3bn repo ahead of bond repayment
Six unnamed international banks provide BCRA with reserves boost
The Central Bank of Argentina (BCRA) has secured a $3 billion repurchase agreement with foreign lenders to shore up its reserves ahead of a bond repayment deadline.
In a statement on January 7, the BCRA said it would pay an annual interest rate of 7.2% on the repo. This, it said, would be equal to the US’s secured overnight financing rate plus a premium of 400 basis points. The repo would mature in 372 days.
The central bank said it had received bids of $4.4 billion for this operation but decided
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