New option so that small savers invest

Last tomorrow, retail investors will have a new alternative to put their money: after the success obtained its first presentation at the end of last year, YPF will launch a new negotiable obligations in pesos in the amount of $100 million, expandable up to 300 million pesos.

The State oil company are optimistic about the signing of the bond and that you for the first issue, in December, there was an unmet demand. Then offered 50 million pesos with possibilities of extending to 150 million.

This demand excited financiers of YPF, by which it was decided to launch, after tomorrow and Friday March 1, a new obligation negotiable (ON) in pesos for small savers, with a 19% annual interest. "People have weights and this paper is a good choice, simple and designed for people who do not have extensive financial knowledge", said a source close to the company, which worked on this offer.

From Tuesday until Monday of the coming week, YPF must comply with the period of the 14th class ON public broadcasting. This will be released, as it was said, with a par value of $100 million, expandable up to $300 million. Interested parties may submit purchase orders for a minimum of $1000 and a maximum of $250,000. The bonus will return the invested capital once after 365 days.

Where to buy it? The nine banks that already marketed the previous bond joined other four, in addition to five entities of bag. Therefore, available from banks credit and securitization, of Galicia, of the province of Buenos Aires, Macro, Santander Rio, BBVA Banco Francés, nation Bursátil Sociedad de Bolsa, Credicoop, Citicorp Capital Markets, Itaú Argentina, Cohen Sociedad de Bolsa, bridge Hnos., Raymond James Argentina Sociedad de Bolsa, Allaria Ledesma, Banco de Valores s.a., Banco Hipotecario, Chubut and Neuquén.

In addition, if you are customer of a bank that is not listed among the selling, ask that institution itself ask another bank or building society bag it will channel that placement.

A risk which could have this bonus is that determined why oil company decides not to pay it. However, the rating agency Fitch rated it AA (Arg), implying a very high credit quality and a very low expectation of credit risk.

You may have problems of liquidity (which cost to get rid of it), but as clarifies the Economist Miguel Angel Boggiano, founder of cartafinanciera.com, a fixed-term also immobilizes the money for a year.

Another point to consider is if the banks will charge any Commission per transaction, but Underwriters with respect to the previous bonus increasing, suggests that they will compete for attractive with lower costs. In fact, several entities have announced that they will charge commissions.

Compared to rates that pay banks for a fixed term, which is on average 15%, the alternative of YPF shown attractive. But how does standing in comparison with the dollar? Boggiano explains that in comparison with the dollar play expectations of inflation, issuing and currency depreciation, but estimated that the blue dollar is more convenient, because his expectation of increase is higher than the 20 percent (one point more than the rate of the bond of YPF).

Meanwhile, beginning Tuesday will begin to see if the new bonus from the State oil company surpass the figure of 10,700 takers which had the previous.