UTE, the energy company of the State, started the filling of debt through Banco Republica last Thursday 24th of July finalizing with an auction in the stock exchange (BEVSA) on July 30th at 12 pm.
The Negotiable Debt Securities were distributed among 1311 savers, allowing them participation as investors in different UTE projects of electrical infrastructure and energy generation, including wind energy.
The debt instrument will have a 5 year maturity with a possibility of early maturity on an annual basis if requested by the investor. Interests will be paid semiannually with an annual interest rate of 2.75% the 1st year, 3.50% the 2nd year, 4.25% the 3rd year, 5.00% the 4th year and 5.75% the 5th year resulting in a weighted rate of return from the issuance to maturity of 4.23% annually.
Added the present issue to the others approved by the Central Bank of Uruguay for ISUSA (fertilizer company) and Conaprole (dairy company) the capital market achieves a significant increase in its US dollars issue which is expected to cause a strong gearing market effect.
News - "El País"
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