UPDATE 2-El Salvador launches $360 mln buyback of 2023, 2025 bonds

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Sept 12 (Reuters) - El Salvador launched on Monday its previously announced buyback offer for bonds maturing in 2023 and 2025, the government said in a press release.

The government said the offer will not exceed $360 million, $200 million fewer than the $560 million it said it would mark for the buyback when it was first announced in July.

The government offered to purchase the 2023 bond at 91 cents and the 2025 bond at 54 cents. The 2023 last traded at 91 cents in early September 2021.

Before the first buyback announcement, the 2023s were trading in the mid-60 cents area and the 2025s around 26 cents on the dollar. The government said back then that it would buy the bonds at market prices.

The 2023 most recently traded at 88.5 cents and the 2025 at 49.125 cents according to Refinitiv data.

The buyback window will be open until 12 p.m. EDT (1600 GMT) on Sept. 20, with a settlement expected on Sept. 22, the government said.

Deutsche Bank will manage the deal, the government said. (Reporting by Nelson Renteria and Rodrigo Campos, additional reporting by Kylie Madry Editing by Marguerita Choy)