The company successfully redeemed outstanding securities and issued US$706 million since December of last year.
Uruguayan Road Corporation (CVU) launched its third reopening of titles, which had the appetite of local investors and placed a total of 205 million dollars by adding the three series, both in Indexed Units (UI), as Pension Units (UP) and in dollars.
Thus, since its arrival on television screens, Electronic Stock Exchange SA (Bevsa) in December last year, CVU reached a total amount of 706 million dollars issued, 400 million linked to previously issued securities and the remaining 306 million to cash amounts.
The firm, whose share package is 100% owned by the National Development Corporation (CND), had placed 236 million dollars in the April tender and another 101 million in April, in its funding strategy to carry out construction works. infrastructure.
How did Corporación Vial del Uruguay fare in this reopening?
On this occasion, three series were auctioned between Monday 12th and this Thursday. In the case of the titles in UP and dollars, which were jointly tendered, demand was 167 million, exceeding by 68% the amount offered in both currencies by the issuer, and accepting offers for an amount of nearly 100 million dollars, at an effective rate in UP of 2.39% per year and an effective rate in dollars of 5.98% per year.
As for the series in UI, The offer was for 100 million, with a slightly higher demand of 105 million and an award of 100% of the offers received at an effective rate in UI of 4.10% per year.
In turn, CVU received offers from the retail segment which totaled nearly 1.1 million dollars, which were awarded in full. Of the total awarded, almost 90% was made up through the exchange of securities and the remaining 10% via cash.
After the successful operation, the Bevsa Operations and Markets Manager, Agustin Gattas, He stressed that these instruments “allow the necessary funds to be channeled for investments in key projects for the country and at the same time are a fundamental contribution to boosting the stock market and the economy.”
Source: Ambito
