{"id":67814,"date":"2025-12-12T14:16:08","date_gmt":"2025-12-12T17:16:08","guid":{"rendered":"https:\/\/safras.com.br\/es\/?p=67814"},"modified":"2025-12-12T14:16:08","modified_gmt":"2025-12-12T17:16:08","slug":"tesoro-argentino-rollover-licitacion-2025","status":"publish","type":"post","link":"https:\/\/safras.com.br\/es\/tesoro-argentino-rollover-licitacion-2025\/","title":{"rendered":"Tesoro logra rollover del 102% en licitaci\u00f3n de fin de a\u00f1o"},"content":{"rendered":"

La Secretar\u00eda de Finanzas de la Naci\u00f3n<\/strong> adjudic\u00f3 $21,27 billones<\/strong> en la \u00faltima licitaci\u00f3n del a\u00f1o, logrando un rollover del 102,01%<\/strong><\/a><\/span> sobre los vencimientos del d\u00eda, tras recibir ofertas por $23,37 billones<\/strong>.<\/p>\n

El resultado super\u00f3 las expectativas del mercado, en un contexto de alta estacionalidad de fin de a\u00f1o<\/strong>, vencimientos elevados y escasa liquidez<\/strong>.<\/p>\n

Confianza del mercado<\/h2>\n

La colocaci\u00f3n se dio pese a la incertidumbre generada por $40,3 billones en vencimientos<\/strong> pr\u00f3ximos.
Seg\u00fan Finanzas, el resultado reflej\u00f3 la confianza de los inversores<\/strong>, evidenciada en:<\/p>\n

    \n
  • \n

    Tasas m\u00e1s bajas<\/strong> en t\u00edtulos a tasa fija<\/p>\n<\/li>\n

  • \n

    Menores rendimientos en instrumentos ajustables por CER<\/strong><\/p>\n<\/li>\n

  • \n

    Mayor demanda por instrumentos de mayor plazo<\/p>\n<\/li>\n<\/ul>\n

    Tasas y plazos<\/h2>\n

    Se observ\u00f3:<\/p>\n

      \n
    • \n

      Una reducci\u00f3n promedio de 20 puntos b\u00e1sicos<\/strong> en la TEM<\/strong> de los instrumentos a tasa fija<\/p>\n<\/li>\n

    • \n

      Una baja de 100 puntos b\u00e1sicos<\/strong> en la TEA<\/strong> del t\u00edtulo CER con vencimiento en mayo de 2026<\/strong><\/p>\n<\/li>\n<\/ul>\n

      Un punto clave fue la extensi\u00f3n de la vida promedio ponderada<\/strong> de la deuda emitida, que pas\u00f3 de 0,6 a 1,2 a\u00f1os<\/strong>, duplicando el promedio de las tres licitaciones anteriores.<\/p>\n

      Instrumentos adjudicados<\/h2>\n

      Entre los principales resultados se destacaron:<\/p>\n

        \n
      • \n

        $3,6 billones<\/strong> en t\u00edtulos ajustables por CER<\/strong> con vencimiento en junio de 2028<\/strong>, a una TIREA de 8,88%<\/strong><\/p>\n<\/li>\n

      • \n

        Colocaciones de LECAP y BONCAP<\/strong> a tasa fija, con vencimientos entre abril de 2026 y mayo de 2027<\/strong><\/p>\n<\/li>\n

      • \n

        US$ 36 millones<\/strong> en un instrumento D\u00f3lar Linked<\/strong> con vencimiento en abril de 2026<\/strong>, a una TIREA de 2,72%<\/strong><\/p>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

        La Secretar\u00eda de Finanzas de la Naci\u00f3n adjudic\u00f3 $21,27 billones en la \u00faltima licitaci\u00f3n del a\u00f1o, logrando un rollover del 102,01% sobre los vencimientos del d\u00eda, tras recibir ofertas por $23,37 billones. El resultado super\u00f3 las expectativas del mercado, en un contexto de alta estacionalidad de fin de a\u00f1o, vencimientos elevados y escasa liquidez. Confianza […]<\/p>\n","protected":false},"author":13,"featured_media":67815,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[444],"tags":[503,691,751,659],"commodity":[],"class_list":["post-67814","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-noticias-financieras","tag-bcra","tag-deuda","tag-rollover","tag-tesoro"],"acf":[],"yoast_head":"\nTesoro logra rollover del 102% en licitaci\u00f3n de fin de a\u00f1o - SAFRAS & Mercado<\/title>\n<meta name=\"description\" content=\"El Tesoro argentino adjudic\u00f3 $21,27 billones y logr\u00f3 un rollover del 102%, extendiendo plazos y reduciendo tasas en la \u00faltima licitaci\u00f3n del a\u00f1o.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/safras.com.br\/es\/tesoro-argentino-rollover-licitacion-2025\/\" \/>\n<meta property=\"og:locale\" content=\"es_ES\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tesoro logra rollover del 102% en licitaci\u00f3n de fin de a\u00f1o - 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