By Reshmi Basu
New York, July 19 - The Republic of Uruguay priced €300 million of 11-year bonds (B3/B/B+) at par to yield 6 7/8%, according to a market source.
The issue priced at the wide end of price guidance. Guidance had been set at 6¾% to 6 7/8%.
Deutsche Bank and UBS managed the transaction.
Proceeds from the sale will be used for 2006 budgetary needs.
| Issuer: | Republic of Uruguay
|
| Amount: | €300 million
|
| Issue: | Euro-denominated global bonds
|
| Maturity: | Jan. 19, 2016
|
| Coupon: | 6 7/8%
|
| Issue price: | Par
|
| Yield: | 6 7/8%
|
| Pricing date: | July 19
|
| Settlement date: | July 26
|
| Joint bookrunners: | Deutsche Bank, UBS
|
| Ratings: | Moody's: B3
|
| Standard & Poor's: B
|
| Fitch: B+
|
| Price guidance: | 6¾% to 6 7/8%
|
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