UTE picks up funds for transmission line

UTE picks up funds for transmission line

Bonds Debt Fixed Income Uruguay Electricity

Uruguay's state-owned power company UTE said it sold UI685 million ($94 million) in inflation-linked bonds in the local market to finance a 500 kv power transmission project, less than the up to UI800 million maximum it had sought. The 26-year bonds were sold at a price to pay 3.125%, according to documents filed with the Bolsa Electrónica de Valores, an electronic stock exchange in Montevideo. UTE sold the 2048 bonds through República AFISA, a financial trust company owned by the central bank.

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