He Ministry of Economy and Finance (MEF) closed at 2:30 p.m. on Tuesday a new tender of the treasury note in Indexed Units (UI) –Series 31– with expiration of almost six years, in January 2029, and awarded 1,261 million pesoswith the objective of funding from instruments in pesos.
The amount to bid stipulated by the Public Debt Management Unit (UGD) It was 200 million UI – approximately 1,157 million pesos or 29.9 million dollars, at today’s value.
However, as the State has within its powers to end up awarding up to double the amount auctioned, and there were proposals for 292,000 UI –close to 43 million dollars–, it ended up placing a little more than what was offered: 218.100 million IU –1,261 million dollars or 32.6 million dollars–, a 9% more than expected.
With these bidding results, whose cut rate it was of 3.09%, the currency of this NT amounted to 1,671 million UI –almost 9,668 million pesos–. The integration it will be tomorrow, Wednesday.
The conditions of the Treasury Note in UI to 2029
Among the conditions, the UGD established a 3.25% annual coupon. In turn, the interest payment be biannualevery July 18 and January 18, until January 18, 2029, expiration date, where the amortizationin one go.
All local investors authorized by the Central Bank of Uruguay (BCU) were authorized to present their offers. Non-resident investors, for their part, could do so through a local bank or broker, or through Global Depositary Notes (tradeable at Euroclear, Clearstream and DTC).
la la minimum amount of each offer was PU 100,000in multiples of UP 10,000, and the tender was structured as an auction of only pricewhich means that all the accepted offers were awarded at the same price, as established by the UGD, which in this case was 100.8.
In turn, Treasury Notes were accepted as a means of payment 26 series (UI), 27 series (UI), Series 13 (UI) and Series 1 (UP).
The BCU awarded a letter in pesos for $4,466 million
In turn, yesterday, Monday, May 8, as planned in the tentative placement calendar, the Central Bank of Uruguay (BCU) awarded 4,466 million pesos in a title with a term of 35 days, expiration date on next June and a cut rate of 11.32%. The amount to be tendered was 4,200 million pesos and offers were submitted for 5,628 million pesos, 34% more.
The calendar provides for two more placements. the first, tomorrow Wednesday May 10, at 2:00 p.m.: a title will be tendered for 3,300 million pesos, equivalent to about 85 million dollars, with integration that same day and with a term of 91 days -two months-; with an expiration date of August 9 of this year. Of this total, 660 million pesos – about 17 million dollars – are considered non-competitive.
Lastly, the friday may 12at the same time, a title will be tendered for 5,000 million pesos –128.7 million dollars– with integration that same day and with a maturity period of 175 days. In other words, it has a maturity date of November 3, 2023. Of this total, 1,000 million pesos –25.7 million dollars– will be considered non-competitive placements.
Source: Ambito
