of Cordoba city reported that he placed bond at the local market 70 billion pesos“prescribed maximum amount.”
Secretary of Public Administration and Human Capital; Sergio Lorenzatticlaimed “It shows the confidence of banks and investors in the municipality.”They understand that the City will fulfill its obligations as always. ”
“For business owners, this is a very important support in times of crisis in economic activity at the national level.” he emphasized.
evaluation
The evaluation of Cordoba city “Reflects strong creditworthiness and a trend toward positive operating margins,” the rating explained. Moody’s Local ArgentinaRisk Rating Agent, with respect to debt titles.
And he completed:In recent financial years, we have made significant efforts to rationalize our spending.reach Primary balance surplus for the past two yearsand debt levels are moderate compared to other jurisdictions. ”
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debt securities
The metropolitan government pointed out the following:2025 Series II Bonds worth $70 billion” and “they will help with the financial commitments, implementation of public works and provision of services that the capital of Córdoba has to face in the short and medium term.”
at the end of september The city paid the fourth installment of the debt contracted in foreign currency in 2016 with its own funds.the amount is $22.8 million.
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Debt Securities 2025 Series II
Furthermore, the municipality specified the title as follows: “The term is 15 months and will be paid in 3 installments.”: 25% for 13th and 14th month, 50% for 15th month. ”
“This title incurs a variable interest rate (TAMAR) Plus margin, paid monthly. “This title may be subscribed and consolidated virtually or in-kind through the delivery of Series LI and LII Treasury Bills,” he explained.
“The high taxpayer category (type 3) will have an allocation as a guarantee of flows from levies related to donations affecting commercial, industrial and service activities,” the official statement concluded.
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