He Ministry of Economy and Finance (MEF) placed 31 million dollars in the reopening of the Treasury Note Series 6 in Pension Units (UP), a tender that had great demand and thus confirmed the market’s appetite for this instrument.
As reported by the Uruguayan Electronic Stock Exchange(Bevsa), the proposed amount was 3,068,240 UP, that is, about 120 million dollars, an amount much higher than the 850,000 UP offered by the government (33 million dollars) and the accepted amount of 800,000 UP (about 31 million dollars).
The NT Series 6 in UP closed with a cut-off price of 103.73 and a Internal rate of return (IRR) of 1.8870%. These notes will be integrated this Wednesday, January 17, with a maturity date of July 20, 2036.
The NT in UP, an instrument that generates interest in the market
The NT in U.P. They are positioned at the start of the year among the favorites for investors, after positive tenders during 2023, in an economy marked by the decline in the inflation and the interest rate, variables mixed with an increase in wages.
Added to this is that during the last months of last year this type of notes remained constant, while tenders in Indexed Units (UI) and in pesos (UYU).
In fact, for this year, the Central Bank of Uruguay (BCU) reported that the calendar for the first semester will have 52% of its offer in UP, with shorter maturities, while 39% will be in UI and the remaining 9% in pesos.
How is the bidding schedule going this week?
On the other hand, the bidding calendar planned by the BCU indicates that this Wednesday the 17th at 2:00 p.m. a new award will be carried out. In this case it will be a title in pesos per 4.2 billion pesos (almost 106.60 million dollars) with a 98 day period, and an expiration date of April 24 of the current year. Within the total, some 840 million pesos (almost 21.32 million dollars) will be non-competitive placements. The integration date is the same day of the tender.
Finally, on Friday the 19th, Also at 2:00 p.m., the last title in pesos of the week will be auctioned, for others 5,000 million pesos (almost 126.90 million dollars) with a term of 189 days, and an expiration date of July 26 of this year. Of the total, 1 billion pesos (almost 25.38 million dollars) will be non-competitive placements.
Source: Ambito
