NEW YORK, Oct 19 (IFR) - Uruguay was approaching investors on Monday with a new benchmark-sized US dollar bond due 2027 after setting initial price thoughts of 265bp area over Treasuries.
The amortizing bond has an average life of around 11 years and is part of a broader liability management operation. Citigroup, HSBC and Itau are acting as leads.
The South American country, which is rated Baa2/BBB/BBB-, is expected to price the deal today. (Reporting by Paul Kilby; Editing by Natalie Harrison)