BUENOS AIRES, June 10 Uruguay is launching a new
2050 global bond on Tuesday at an initial spread of 170 basis
points over U.S. Treasuries as part of the government's bid to
put less strain on its accounts in the near and medium-term,
Thomson Reuters unit IFR reported.
The South American country announced the deal in an official
decree earlier on Tuesday, saying it would use some of the
proceeds to purchase outstanding bonds due to expire in 2015,
2017, 2022, 2025, 2033, 2036 and 2045.
The buyback is meant to help spread out Uruguay's debt
payment schedule. Last August it sold $2 billion in a new 2024
global bond as part of an operation that included a $982.5
million debt swap.
Uruguay did not specify how much it expected to raise in
total. The sale is being managed by HSBC and JP Morgan and the
pricing will be announced later on Tuesday.
The tender period started at 1200 GMT and will end at 2000
GMT, the country said.
(Reporting by Alejandro Lifschitz; Writing by Sarah Marsh)