He Ministry of Economy and Finance (MEF) placed more than 1,500 million pesos (about 57 million dollars) in the reopening of the Treasury Note Series 3 in Pension Units (UP), which had a demand greater than supply.
The offer of MEF for the note in UP it was 1.4 million pesos (53 million dollars) and the demand reached 1,805 million pesos (69 million dollars), of which 1,500 million pesos were accepted.
In this way, the NT Series 3, with a term of 16.8 years (expires on May 13, 2040), it had a cut-off price of 99.90 and a Internal Rate of Return (IRR) of 2.21%, according to data from the Uruguayan Electronic Stock Exchange (Bevsa).
It is worth remembering that the Debt Management Unit (UGD) indicated that the Treasury Notes in UP They concentrate almost 17% of the total stock of government debt, more than five years after their first issue.
Latest Sovereign Debt Report of the UGD, which is prepared on a quarterly basis, specified that the government issued a total of 6.5 billion dollars equivalent of securities in UP, with six different maturity terms, mostly medium and long (between 7 and 26 years of maturity), with a “sustained increase, both in absolute and relative terms.”
How does the placement schedule continue?
The placement calendar established by the Central Bank of Uruguay (BCU) foresees a greater supply of securities in the coming days. On Wednesday there will be an award at 2 p.m., when a title will be tendered for 4,500 million pesos, equivalent to about 112.97 million dollars, with integration on that same day and with a period of 91 days, of which 900 million of weights are considered non-competitive.
Meanwhile, another title will be put out to tender on Friday, with award that same day, and for a value of 4.5 billion pesos – about 112.97 million dollars – and with a term of 168 days. Of the total amount, 900 million pesos will be non-competitive.