Road Corporation of Uruguay (CVU) will carry out a second reopening of the debt securities issued in December 2023 to finance the Road Plan 2020-2024 for a total of up to 100 million dollars, announced this Monday.
The tender, which seeks to provide dynamism to the stock market of the Uruguay, will take place next week and will have three series: I for 319 million indexed units (about 50 million dollars), with an annual interest of 3.80%; series II for 721 million pension units (30 million dollars), with an annual interest of 2.25%; and series III for 20 million dollars, with an annual interest of 5.70%.
The second reopening of Corporación Vial’s securities, which have an AA rating of Moody’srepeats the scheme of the first reopening – which was also the first of the local stock market – of carrying it out in three series of UI, UP and dollars.
On this occasion, the reopening will be integrated with cash resources, unlike the first one carried out in April in which the integration had to be carried out mainly through the exchange of securities.
When does the CVU tender open?
In the wholesale section, dedicated to institutional investors, the bidding will be open between Monday the 24th and Tuesday the 25th, between 10 and 12 on both days, depending on the series in question.
The retail section, based on the price obtained in the wholesale segment, which will be published on Tuesday the 25th in the afternoon, offers must be entered on Thursday the 27th, between 10:00 a.m. and 2:00 p.m.
The instrument offers semiannual interest payments starting in June of this year, with a principal grace period of 11 years (until December 2035) and constant amortization from that date until June 2049.
Corporación Vial del Uruguay reported that retailers will be able to enter offers through stockbrokers or the respective financial institutions.
Source: Ambito
