The Argentine Treasury is attempting to reschedule maturities of
LELINC bonds
due on January 30th (approximately $6 billion nominal) to February 27th (D27F6), April 30th (D30A6), and June 30th (TZV26).
Government Aims to Prevent Speculative Dollar Movements
Portfolio Personal Inversiones (PPI)
noted that, in line with the previous bond swap, the Treasury is inviting holders of LELINC bonds maturing January 30, 2026 (D30E6), to exchange them for bonds maturing at the end of February (D27F6), end of April (D30A6), or the dollar-linked bond due at the end of June (TZV26).
According to the official statement, holders can choose one, or all, of these alternatives.
The swap will take place on Thursday, January 22, 2026, and the settlement of the received and awarded offers will occur on Tuesday, January 27, 2026 (T+3), as detailed by the brokerage firm.
On January 7th, the government executed a similar operation, postponing the maturity of a bond due January 16th by just two weeks. In that instance, approximately $3.4 billion was exchanged, representing 64.19% of the nominal value in circulation.
Through these measures, the economic team seeks to
prevent speculative movements in the official dollar exchange rate (ARS 3,500).
There’s concern that the price will increase as the maturity date approaches,forcing the Treasury to make a larger payment.
This occurs while the Central Bank is attempting to purchase dollars to bolster reserves, while simultaneously keeping the dollar rate as far from the upper limit of the band as possible.
