Ciudad Juarez.- The Ministry of Finance published public tender 007/2024 in the state’s official newspaper for the acquisition of one or more long-term credit contracts for up to 10,660.3 million pesos in order to refinance six previous loans.
The balances of these liabilities as of August 31, as noted in the call, add up to the amount sought and were contracted between 2019 and 2022 with due dates in 2039 and institutions such as Bancomer BBVA (two), Banorte or the National Bank of Public Works and Services (Banobras), which is the largest creditor of this block, with four thousand 326.2 million.
They are loans already contracted
According to information from the Ministry of Finance, this is the second tender this year that seeks to refinance loans already contracted, after the 005/2024 tender was launched on August 7 to restructure another six for 9,723.4 million pesos, whose winning banks will be announced on September 26.
“The current refinancing process does not represent additional debt, since these loans were requested in 2019 by the previous administration,” said the Treasury regarding that first tender.
“By paying less interest, the State Government will have greater resources to continue investing in public works, as well as in health, education, security and social development projects,” the agency added at the time.
The expiration dates provided for in the calls, however, will extend the current ones by between five and 10 years, since they establish that they can be 20 or 25 years from each contract, or between 2044 and 2049 if they are signed in 2024.
The bases of this second procedure establish that the decision will be released on November 22 with the purpose of signing the contract(s) on the 29th, while those of 005/2024 provide for formalization on October 4.
Both the first and second calls cite as a precedent the authorization decree LXVII/AUOBF/0801/2023, approved on December 19, 2023 by the local Congress and published on February 10, with the list of 16 credits to be refinanced, including the 12 of these first two procedures.
“The resources derived from the financing authorized in this article, contracted through one or more loans, up to an amount of $32,529,291,207.8 pesos without including interest, must be allocated to the refinancing, in whole or in part, of the financing that constitutes the current long-term direct debt of the State indicated,” says the decree.
This debt for refinancing purposes is different from the debt destined for public productive investments acquired and which, instead, is registered as an additional or new burden before the Ministry of Finance and Public Credit, reported staff of the state agency.
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