Uruguay Raises $1bn, Preps Tenders

Uruguay Raises $1bn, Preps Tenders

Bonds Uruguay

Uruguay has sold UYP19.906bn ($1bn) in inflation-linked 2028 bonds ahead of an exchange offer to be held this week, as the sovereign seeks to de-dollarize its curve, extend duration and provide liquidity to its existing bonds. On the back of reverse inquiry amounting to half the transaction size, the sovereign was able to price the SEC-registered bonds at par with a 4.375% coupon, in line with 4.375% area guidance and whispers. The transaction was being comped against Uruguay’s existing 203

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