The market had a good reception towards the reopening of the titles maturing in August 2034.
He Ministry of Economy and Finance reopened the Treasury Note Series 29 in Indexed Units (IU) maturing in 2034 and obtained a demand of almost double what was offered, with a total accepted amount of 334 million IU, which is equivalent to more than 1,933 million pesos (just over 50 million dollars).
The government’s offer was 275 million Indexed Unitsclose to 41 million dollars, while the demand reached 524 million dollars. IU, that is, about 79 million dollars, with an accepted amount of 334 million dollars. IU.
The Note Series 29, issued on August 24, 2021, includes a 2.50% annual coupon, as well as a semi-annual interest payment, every August 24 and February 24, until August 24, 2034, while the amortization will be made in three annual payments in 2032, 2033 and 2034, according to the conditions established by the UGD. In addition, the cut-off price was set at 92.51 and the Internal Rate of Return (IRR) was 3.3860%.
Local investors authorized by the Central Bank of Uruguay (BCU) were able to submit their offers, while non-resident investors were able to do so through a local bank or broker, or through Global Depositary Notes (tradable on Euroclear, Clearstream and DTC).
The schedule of titles for the remainder of the week
Regarding the calendar of titles Uruguayans, from the BCU They detailed that this Wednesday the 16th, at 2:00 p.m., the bidding will be held for a title in pesos for 2,500 million pesos with a term of 77 days and an expiration date of November 1 of the current year. Within the total, some 500 million pesos will be non-competitive placements.
At the same time, on Friday the 18th, also at 2:00 p.m., the last title in pesos of the week will be auctioned, for 3,300 million pesos with a term of 182 days, and an expiration date of February 16, 2024. Of the total, 660 million pesos will be non-competitive placements.
Source: Ambito
