Uruguay Announces Final Results of its International Offer
Montevideo (ots/PRNewswire)
The Republic of Uruguay, in accordance with the schedule of its offer launched on June 24, 2008 to holders of 14 series of outstanding foreign currency external bonds of Uruguay (the "Eligible Bonds") outside the United States (the "International Offer"), announced today that it expects to issue:
(a) U.S.$134.96 million aggregate principal amount of its U.S. Dollar 7.625% Bonds due 2036 (CUSIP No. 760942AS1; ISIN US760942AS16 and Common Code 024873811), and
(b) Ps.14,650 million aggregate principal amount of its 4.00% UI Bonds due 2030 (CUSIP P80557AD6; ISIN USP80557AD64 and Common Code 037546534) for which the initial value of one UI will be 1.8133 Ps.,
in exchange for Eligible Bonds tendered in the International Offer and in the concurrent offer in the United States and in exchange for certain other debt securities of the Republic tendered in the concurrent domestic exchange offer. The International Offer and the concurrent exchange offers are expected to settle on July 10, 2008. The aggregate principal amount of each series of Eligible Bonds accepted in the International Offer and the concurrent offer in the United States are set forth in the following table.
Aggregate
principal Aggregate
amount Principal principal
currently amount amount
outstanding tendered
Eligible not
Bonds tendered
EUR Bonds
7.000% Bonds 43,270,000 332,000 42,938,000
due 2011
7.000% Bonds 41,350,000 3,239,620 38,110,380
due 2012
USD Bonds
7.875% Bonds 47,530,000 137,500 47,392,500
due 2008
7.875% Bonds 1,270,000 60,000 1,210,000
due 2009
7.250% Bonds 4,290,000 - 4,290,000
due 2009
8.750% Bonds 1,950,000 - 1,950,000
due 2010
7.250% Bonds 103,410,000 11,559,711 91,850,289
due 2011
8.375% Bonds 29,980,000 1,565,800 28,414,200
due 2011
7.625% Bonds 1,960,000 150,000 1,810,000
due 2012
7.000% Bonds 39,500,000 464,854 39,035,146
due 2013
7.875% Bonds 6,800,000 1,198,886 5,601,114
due 2014
7.250% Bonds 17,800,000 726,618 17,073,382
due 2014
7.500% Bonds 392,400,000 100,532,907 291,867,093
due 2015
8.750% Bonds 24,100,000 3,715,868 20,384,132
due 2015This press release is for information purposes only and does not constitute or form part of, and should not be construed as an offer or an invitation to sell, or issue or the solicitation of any offer to buy or subscribe for, any securities. In connection with this transaction there has not been, nor will there be, any public offering of the New Bonds. No prospectus will be prepared in connection with the offering of the New Bonds. The New Bonds may not be offered to the public in any jurisdiction in circumstances that would require the issuer of the New Bonds to prepare or register any prospectus or offering document relating to the Bonds in such jurisdiction. The distribution of this press release and the offer and sale of the New Bonds in certain jurisdictions may be restricted by law. Italy has only partially implemented the Prospectus Directive and, accordingly, the provisions of the Prospectus Directive shall apply with respect to Italy only to the extent to which the relevant provisions of the Prospectus Directive have already been implemented in Italy. The New Bonds may not be placed, sold or offered to individuals resident in Italy in the primary or in the secondary market. Any persons reading this press release should inform themselves of and observe any such restrictions.
This press release does not constitute an offer to sell or a solicitation of an offer to purchase any securities in the United States. The 2030 UI Bonds have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or the laws of any state within the U.S., and may not be offered or sold in the United States or to or for the account or benefit of U.S. persons, except in a transaction not subject to, or pursuant to an applicable exemption from, the registration requirements of the Securities Act or any state securities laws. This press release and the information contained herein may not be distributed or sent into the United States, or in any other jurisdiction in which offers or sales of the securities described herein would be prohibited by applicable laws and should not be distributed to United States persons or publications with a general circulation in the United States. No offering of the 2030 UI Bonds is being made in the United States.
Until 40 days after the settlement date, all dealers effecting transactions in the 2036 Global Bonds in the United States may be required to deliver a copy of a prospectus relating to the 2036 Global Bonds.
This press release does not constitute a "prospectus" for the purpose of Article 5.4 of the Prospectus Directive 2003/71/EC and has not been approved by the competent authority of any member state of the European Economic Area.
Contact:
Media contact: Azucena Arbeleche, +2-1712-2957