Uruguay broke new ground in the capital markets this week by becoming the first Latin American borrower to launch a bond in another Latin American country's currency, issuing a Chilean peso inflation linked transaction. As part of a larger objective of developing domestic capital market alternatives to the international markets, Uruguay took up Chase Securities' proposal to issue a Ps82bn ($142.46m) 6.5 year Euro/144A deal, priced at 100bp over the November 2008 government benchmark yielding 7.123%. The deal pays a semi-annual coupon of 7% over Chilean inflation, which now stands at 5%.
November 24, 2000
