SOURCE: Republic of Uruguay

December 06, 2007 11:34 ET

Uruguay Announces Reference Rates and Purchase Prices for International Cash Tender Offer and Extension of Expiration Time

MONTEVIDEO, URUGUAY--(Marketwire - December 6, 2007) - The Republic of Uruguay announced today the following Reference Rates and related Purchase Prices (per U.S.$/EUR 1,000 principal amount tendered) for each of the ten series of international U.S. dollar and Euro-denominated bonds set forth in the table below, all maturing in or prior to 2012 (the "international bonds"), eligible for tender in the cash tender offer launched on December 3, 2007 (the "Offer"), as well as the extension of the Expiration Time for the Offer.

                                                      Fixed      Price
                                Minimum               Spread      (per
                                 Tender    Reference  (basis    U.S.$/EUR
    Bonds            ISIN     Denomination   Rates%   points)     1,000)
-------------    ------------ ------------ --------- ------- --------------
  USD Bonds
7.000% Bonds
 due 2008        US760942AF94     USD1,000     4.969      25 U.S.$ 1,005.23
7.875% Bonds
 due 2008        US917288AL60         USD1     4.275      30 U.S.$ 1,029.32
7.875% Bonds
 due 2009        US917288AK87     USD1,000     4.169      40 U.S.$ 1,040.30
7.250% Bonds
 due 2009        US760942AH50     USD1,000     4.127      50 U.S.$ 1,034.62
8.750% Bonds
 due 2010        US760942AJ17     USD1,000     3.901      80 U.S.$ 1,094.94
7.250% Bonds
 due 2011        US917288AY81         USD1     3.935      85 U.S.$ 1,071.43
8.375% Bonds
 due 2011        US917288AP74         USD1     4.006      90 U.S.$ 1,118.10
7.625% Bonds
 due 2012        US917288AJ15     USD1,000     4.043      90 U.S.$ 1,098.19
  EUR Bonds
7.000% Bonds
 due 2011        XS0131127036     EUR1,000     4.294      95   EUR 1,054.83
7.000% Bonds
 due 2012        XS0167136786         EUR1     4.299      90   EUR 1,047.78

The Expiration Time for the Offer has been extended to 1 p.m. (New York City time) on December 7, 2007, unless further extended or earlier terminated. Settlement is currently expected to take place on or about December 17, 2007.

The terms of the Offer are described in an offer document dated December 3, 2007.

Citi acts as Dealer Manager for the Offer, and Bondholder Communications Group, LLC acts as Information and Tender Agent for the Offer.

Holders of international bonds entitled to participate in the Offer or their custodians may request a copy of the offer document referred to above from Bondholder Communications Group, LLC at 1-888-385-2663 (toll free number), 1-212-809-2663 (outside US), +44 20 7382 4580 (London),

A holder of international bonds entitled to participate in the Offer, or the person acting on its behalf, must submit tenders through a direct participant in DTC, Euroclear or Clearstream, Luxembourg in the manner described in the offer document related to the Offer.

Capitalized terms used but not defined herein shall have the meaning ascribed to them in the offer document referred to above.

This announcement is not an offer or a solicitation of offers to tender any securities. The Offer is being made solely by the offer document referred to above. The distribution of materials relating to the Offer, and the transactions contemplated by the Offer, may be restricted by law in certain jurisdictions. If materials relating to the Offer come into your possession, you are required by Uruguay to inform yourself of and to observe all of these restrictions. The materials relating to the Offer do not constitute, and may not be used in connection with, an offer or solicitation in any place where such offers or solicitations are not permitted by law.


Contact Information

  • Contact:
    Bondholder Communications Group
    1-888-385-2663 (toll free number)
    1-212-809-2663 (outside US)
    +44 20 7382 4580 (London)