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Friday, April 6 de 2018

The ministry of finance informs its 2018 public debt issuance plan in local currency of up to us$ 7 billion

The Ministry of Finance informs that the Treasury will issue bonds, both in pesos and Unidades de Fomento (UF-inflation linked unit), for a total amount up to the equivalent of US$ 7 billion, approximately, during 2018. These issuances are executed under the debt margin authorized by the 2018 Budget Law, and are required to finance the commitments contained in this Act. The issuances will be made through the General Treasury of the Republic and will have prior authorization issued by supreme decree. 

Following the plan to increase liquidity and depth in the domestic fixed income market, we will continue to promote references for both the nominal and inflation linked curve. Thus, the Treasury will carry out 4 new issuances and 4 re-openings of benchmarks, in order to reinforce the depth of each of them.

The amounts to be issued for each of the reference or benchmark bonds are as follows:

• Bonds in pesos due 2023, up to US$ 1,500 million (New Issue).

• Bonds in pesos due 2030, up to US$ 1,400 million (New Issue).

• Bonds in pesos due 2035, up to US$ 600 million (Reopening).

• Bonds in pesos due 2043, up to US$ 500 million (Reopening).

• Bonds in UF due 2023, up to US$ 1,000 million (New Issue).

• Bonds in UF due2030, up to US $ 900 million (New Issue).

• Bonds in UF due2035, up to US$ 600 million (Reopening).

• Bonds in UF due 2044, up to US $ 500 million (Reopening).

The specific issuance calendar to be made through auctions, including the dates and amounts, will be reported once standard internal procedures have been completed. The Ministry of Finance estimates that the auctions should begin during May. However, this is subject to modifications according to significant changes in market conditions and / or government financing needs. If this happens, it will be informed in a timely manner.

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