Uruguay It bases its international financing in yen, the only foreign currency other than dollars that are part of its debt issuance.
According to the information updated by the Debt Management Unit (UGD) of the Ministry of Economy and Finance (MEF)the global bonds issued in the stock market Japan amount to 50,000 million yen, which, converted to dollars, equals 343,855,305.
The largest circulation of Uruguayan yen bonds is for the shortest-term bond, 2024, which amounts to 37,200 million yen (USD 255,828,347) and matures on December 9 of the following year. While the second largest is for the longest-term global bond (2036) for 11,400 million yen (u$s 78,399,010).
The remainder is distributed in bonds for 2026, 2028 and 2031 for amounts of 400 million, 600 million and 400 million yen, respectively.
The global yen bonds were issued by the Ministry of Economy and Finance (MEF) in 2021 without the guarantee of the Japan Bank for International Cooperation (JBIC, for its acronym in English).
Despite this, through the operation, Uruguay obtained the largest volume of financing in yen and the lowest interest rate in that currency since it issued the first Samurai bond in 1994.
With the operation, in addition, Uruguay It then became the second country in Latin Americanext to Mexicoin successfully issuing JBIC’s unsecured securities, a development highlighted by the authorities considering that the investor base in Japan It is highly selective in amounts and terms of financing for emerging countries.
In the operation, JBIC participated as an investor along with 18 other investors, mostly from Japan.
Source: Ambito
