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Republic of Uruguay to commence global bond offering.

BANKING AND CREDIT NEWS-October 26, 2015-Republic of Uruguay to commence global bond offering


Oriental Republic of Uruguay said it has commenced a global offering of a series of global bonds due 2027 denominated in US dollars, pending application to Luxembourg Stock Exchange and admittance to trading on Euro MTF Market of the Luxembourg Stock Exchange.

Citigroup Global Markets Inc., HSBC Securities (US) Inc. and Itau BBA USA Securities, Inc. will serve as joint bookrunners for the new bonds offering.

Uruguay said it intends to use the net proceeds of the sale of the new bonds for general purposes of the government, including financial investment and the refinancing, repurchase or retiring of domestic and external indebtedness, and will use a portion of such net proceeds for liability management transactions, including the payment of the purchase price for old bonds.

Uruguay said it has also commenced a tender offer to purchase for cash old bonds of each series, subject to Uruguay's right to instruct the billing and delivering bank to extend, terminate, withdraw, or amend the tender offer at any time.

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Publication:M2 Banking & Credit News (BCN)
Date:Oct 26, 2015
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