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NEW YORK, June 10 (IFR) - The Oriental Republic of Uruguay, rated Baa2/BBB-, is set to raise US$2bn from a new 36-year bond offering, which it launched at 165bp over US Treasuries.
Final terms for the issue came at the tight end of guidance of 165bp-170bp over Treasuries and tight to initial price thoughts of 170bp area over.
HSBC and JP Morgan are the lead managers on the SEC-registered bond offering, expected to price later Tuesday.
The notes will amortize in equal amounts over the last three years to maturity. (Reporting by Davide Scigliuzzo; Editing by Natalie Harrison; Editing by)