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Published on 9/7/2017 in the Prospect News Emerging Markets Daily.

Uruguay guides peso-denominated notes due 2028 to yield in 8 5/8% area

By Rebecca Melvin

New York, Sept. 9 – The Republic of Uruguay guided a new issue of peso-denominated notes due March 2028 in the 8 5/8% area, according to market sources.

Final pricing of the notes, which settle in U.S. dollars, was expected late Thursday.

The notes were being priced concurrently with tender offer announced Wednesday to purchase four series of notes including the sovereign’s 8% global bonds due 2022, 4½% global bonds due 2024, 5% global UI bonds due 2018 and 4¼% global UI bonds due 2027.

HSBC Securities (USA) Inc., Deutsche Bank Securities Inc. and Santander Investment Securities Inc. are involved in the tenders and pricing of the new notes.


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