New York, Sept. 25 – The Republic of Uruguay priced $216.97 million add-on to the 4 3/8% bonds due 2031 at 110.637 to yield 3.149%, or a spread of 150 basis points over U.S. Treasuries, according to a pricing term sheet.
The original issue for the reopened notes was for $1.25 billion issued on Jan. 23, 2019.
The Securities and Exchange Commission-registered bonds are callable with a make-whole payment prior to Oct. 23, 2030.
Goldman Sachs & Co. LLC, Santander Investment Securities Inc. and Scotia Capital (USA) Inc. are joint bookrunners of the bonds, which are expected to be listing on the Luxembourg Stock Exchange.
The additional notes are part of the financing condition for a tender offer for three series of notes.
| Issuer: | Republic of Uruguay
|
| Amount: | $216,969,673
|
| Maturity: | Jan. 23, 2031
|
| Description: | Bonds, additional notes
|
| Bookrunners: | Goldman Sachs & Co. LLC, Santander Investment Securities Inc. and Scotia Capital (USA) Inc.
|
| Coupon: | 4 3/8%
|
| Price: | 110.637
|
| Yield: | 3.149%
|
| Spread: | Treasuries plus 150 bps
|
| Call: | Callable with make-whole prior to Oct. 23, 2030
|
| Trade date: | Sept. 24
|
| Settlement date: | Oct. 2
|
| Distribution: | SEC registered
|
| Original issue: | $1.25 billion issued on Jan. 23, 2019
|
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