By Christine Van Dusen
Atlanta, Dec. 6 - The Republic of Uruguay priced a 19.906 billion pesos of 4 3/8% inflation-protected UI notes due Dec. 15, 2028 at par to yield 4 3/8%, according to a filing from the sovereign.
The notes (Ba1/BB+/BB+) priced in line with talk, which was set at 4 3/8%.
The notes are expressed in pesos, at Ps.19.906 billion, and payable in dollars at the rate of 19.898 pesos per dollar.
Citigroup and HSBC were the bookrunners for the Securities and Exchange Commission-registered deal, which is part of a tender offer of bonds due 2018 for the new bonds.
Proceeds from the notes - which will be payable in dollars - will be used to repurchase certain bonds in the tender offer and for general governmental purposes, including financial investment and the refinancing, repurchasing and retiring of domestic and external debt.
| Issuer: | Republic of Uruguay
|
| Amount: | 19.906 billion pesos, payable in dollars at rate of 19.898 pesos per dollar
|
| Maturity: | Dec. 15, 2028
|
| Description: | Inflation-protected notes
|
| Bookrunners: | Citigroup, HSBC
|
| Coupon: | 4 3/8%
|
| Price: | Par
|
| Yield: | 4 3/8%
|
| Trade date: | Dec. 5
|
| Settlement date: | Dec. 15
|
| Ratings: | Moody's: Ba1
|
| Standard & Poor's: BB+
|
| Fitch: BB+
|
| Distribution: | Securities and Exchange Commission registered
|
| Price talk: | 4 3/8%
|
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