Uruguay buys back $1.2 bln in bonds to improve debt profile

MONTEVIDEO, June 11 Wed Jun 11, 2014 10:25am EDT

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MONTEVIDEO, June 11 (Reuters) - Uruguay sold its new 2050 bond at a yield of 5.121 percent and used $1.176 billion of the total $2 billion issuance to buy back nearer-term bonds in a bid to improve its debt profile, government data showed on Wednesday.

The bond, with a 3.625 percent coupon, was issued on Tuesday at a spread of 165 basis points over U.S. Treasuries.

The South American country said it would buy back outstanding bonds due to mature in 2015, 2017, 2022, 2025, 2033, 2036 and 2045. The buyback is meant to help spread out its debt payment schedule. (Reporting by Malena Castaldi; Writing by Sarah Marsh; Editing by Chizu Nomiyama)


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