By Rebecca Melvin
New York, April 13 – The Republic of Uruguay priced $1.75 billion of 4.975% bonds due 2055 at 98.713 to yield 5.053%, or a spread of 200 basis points over U.S. Treasuries, according to a pricing term sheet.
Pricing for the Securities and Exchange Commission-registered deal came tight compared to a yield spread talked at 235 bps over Treasuries.
BBVA Securities, Citigroup and HSBC were the joint bookrunners of the bonds that priced late Thursday and are being issued in conjunction with a concurrent tender for four series of notes, Uruguay’s 8% global bonds due 2022, 4˝% global bonds due 2024, 6 7/8% notes priced 2025 and the 7 7/8% notes due 2033.
| Issuer: | Uruguay
|
| Amount: | $1.75 billion
|
| Maturity: | April 20, 2055
|
| Description: | Bonds
|
| Bookrunners: | BBVA, Citigroup and HSBC
|
| Coupon: | 4.975%
|
| Price: | 98.713
|
| Yield: | 5.053%
|
| Spread: | Treasuries plus 200 bps
|
| Trade date: | April 12
|
| Settlement date: | April 20
|
| Distribution: | SEC registered
|
| Price talk: | Treasuries plus 235 bps
|
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