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Uruguay studying investor appetite for debt

Fri Mar 23, 2007 11:57am EDT

Reporter's Notebook

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MONTEVIDEO (Reuters) - The Uruguayan government is gauging interest from foreign investors for possible debt issues in the country's peso currency, along with dollars and yen, Uruguay's central bank president said on Friday.

Uruguay has received offers from several international investment banks to assist with any potential issue, but Central Bank President Walter Cancela said the South American country did not have any immediate financing needs.

"We're fully financed for 2007, and 2008 is partially covered," Cancela told the Reuters Latin American Investment Summit in Montevideo.

"We can't rule out a possible issue. There's interest in Uruguayan debt in pesos, dollars and yen in the Asian, European and American markets," he said.

The offers came during a recent meeting of the Inter-American Development Bank in Guatemala, Cancela said.

Economy Minister Danilo Astori said this month Uruguay would soon sell up to $256 million in 10-year samurai bonds, the country's first issue in the Japanese market in six years.

In late October, creditors tendered $1.17 billion of eligible bonds in a debt swap by Uruguay, which aimed to scrap lightly traded bonds and extend its debt maturities.

 
 
 
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