January 17, 2019 |
Uruguay said it has agreed to repurchase $386m in outstanding notes with the proceeds from an $850m bond issue earlier this week.
The Uruguayan government will buy back $159m of its 4.5% 2024 notes and $228m of its 4.375% 2027s, but it will not take any of its 8% 2022 bonds.
Bondholders tendered $48.8m of the 2022 notes, $159m of the 2024s and $376m of the 2027s by the deadline on January 15, the government said in a press release. Uruguay expects to settle the buyback on January 22.
Government uses proceeds from this week's bond sale to repurchase $386m in 2024 and 2027 notes