Uruguay opens books on 36-year US dollar bond
NEW YORK, June 10 (IFR) - The Oriental Republic of Uruguay, rated Baa2/BBB-, has opened books on a new 36-year bond denominated in US dollars, according to market sources.
The sovereign has set initial price thoughts of 170bp over US Treasuries for the issue, which amortizes in equal amounts over the last three years to maturity.
HSBC and JP Morgan are the lead managers on the SEC-registered bond offering, which is expected to launch and price today.
(Reporting by Davide Scigliuzzo; editing by Alex Chambers)
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