Uruguay sets guidance on tap of 2050 bond - source
By Davide Scigliuzzo
NEW YORK, Feb 23 (IFR) - Uruguay has set official guidance of 235bp over US Treasuries on a reopening of its 5.1% 2050 bond as it seeks to raise about US$1bn, according to market sources.
Revised terms came flat to initial price thoughts of 235bp area released earlier on Monday morning, indicating a new issue concession of around 20bp compared the bond's closing spread of around 215bp on Friday.
Bank of America Merrill Lynch, Morgan Stanley and Santander are the bookrunners on Uruguay's issue, which is expected to launch and price today. The 2050 amortizes on June 2048, 2049 and on maturity.
Proceeds from the sale will be used for general budgetary purposes. (Reporting by Davide Scigliuzzo; Editing by Paul Kilby)
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