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About the Debt Management Unit
The Debt Management Unit (DMU) was created at the Ministry of Economy and Finance in 2005, seeking to develop an independent administration of the Government's financial obligations and cashflows.
The main objective of the DMU is to assure the Government's financing at the lowest possible cost given risk exposure parameters, based on a solid operational capacity, updated research methods and a proactive approach to the sources of funding.
Treasury Notes New Auction
July 29th, 2014. NEW Auction Result.
July 22th, 2014. The Central Government will reopen the CPI-linked Treasury Notes (UI Notes) due 2022 for sale by auction on July 29th, 2014. Access the Press Release for further information
Offer to Purchase Acceptance of Tenders
June 11th, 2014. The Republic announced today the aggregate principal amount of Preferred Tenders and Non-Preferred Tenders of each series of Old Bonds that has been validly tendered and accepted pursuant the Offer to Purchase, dated June 10, 2014.
Click here to access the Press Release
Uruguay issues USD2.0bn in Global Bonds due 2050
June 10th, 2014. The Republic announced today that it priced a global offering of US$ 2.0 billion aggregate principal amount of its U.S. dollar denominated 5.100% bonds due 2050, at 5 p.m. New York Time. The closing of the New Bonds Offering is expected to occur on June 18th 2014.
The Republic announced global offering of USD bonds due 2050 & Cash Tender Offer
June 10th, 2014. The Republic announced today the commencement of a global offering of a series of global bonds due 2050 to be denominated in U.S. dollars. Uruguay also announced today the commencement of an offer to purchase for cash the bonds in U.S dollars set forth in the Cash Tender Offer Invitation.
Click here to access the Press Release and the Cash Tender Offer Invitation.
Uruguay Ratings Affirmed At BBB- by S&P; Outlook Remains Stable
June 2nd, 2014. Standard & Poor's affirmed its 'BBB-' long-term and its 'A-3' short-term foreign and local currency ratings on the Oriental Republic of Uruguay. The outlook remains stable.
Click here to access the Press Release.
Uruguayan debt reaches highest credit rating in its history
May 29th, 2014. Moody´s Investors Service announced today that it raised the credit rating of the Uruguayan sovereign debt to "Baa2" and assigned a stable outlook.
This is the first time that one of the three main rating agencies upgrades Uruguay´s debt one notch above the lowest level of Investment Grade. Thus, Uruguay consolidates the credit improvement achieved in recent years, especially after recovering the Investment Grade in April 2012.
The "Baa2" rating places the Uruguayan economy in the same place as Peru and Brazil, according to this same rating agency`s criteria, and above Colombia´s rating of "Baa3".
According to Moody's, the pillars that underpinned this new improvement are: the strengthening of the Government's credit profile; the continuation of the economic growth based on high investment levels and productivity gains; a lower exposure to regional risk; and a higher diversification in export base. In the current context of uncertainty and risks in the capital markets, Moody´s considers that the Uruguayan economy looks less vulnerable to regional shocks and negative events related to commodity prices.
Click here to access the Press Release.
DBRS Confirms Uruguay's rating at BBB (low), Stable Trend
May 30th, 2014. DBRS has confirmed the Oriental Republic of Uruguay's long-term foreign and local currency issuer ratings at BBB (low). DBRS has also confirmed the short-term foreign and local currency issuer ratings at R-2 (middle). The trend on all ratings is Stable.
Click here to access the Press Release and the Rating Report
New Treasury Notes in Adjustable Units
April 1st, 2014. The Republic of Uruguay (R.O.U) issued in the local market the equivalent of USD 1.025 billion (UR 32,276,939) a 30 year tenor Treasury Notes in Adjustable Unit (AR) (Serie 1). Click here to access the Press Release.
Domestic Market Issuance Program April 2014 - September 2014
March 28th, 2014. The Central Government launches today its Issuance Program for the next six months in the domestic market.
Click here to access the Press Release and here to download the Calendar. Please refer to Local Auctions for more information.
Fitch affirms Uruguay's rating at BBB-; Outlook Remains Stable
March 4th, 2014. Fitch Ratings has affirmed Uruguay's ratings as follows:
- Long-term foreign currency Issuer Default Rating (IDR) at 'BBB-'; Outlook Stable;
- Long-term local currency IDR at 'BBB'; Outlook Stable;
- Senior unsecured foreign and local currency bonds at 'BBB-' and 'BBB' respectively ;
- Country Ceiling at 'BBB+';
- Short-term foreign currency IDR at 'F3'.
The outlook remains stable, click here to access the Press Release.
Acceptance of Tenders and Maximum Purchase Amount
August 7th, 2013. The Republic announced today the aggregate principal amount of Preferred Tenders and Non-Preferred Tenders of each series of Old Bonds that has been validly tendered and accepted pursuant to its tender offer previously announced, subject to the terms and conditions contained in the Offer to Purchase, dated August 6, 2013.
Click here to access the Press Release
Global offering of USD bonds due 2024 & Tender Offer
August 6th, 2013. The Republic announced today that it priced a global offering of US$2 billion aggregate principal amount of its U.S. dollar denominated 4.50% bonds due 2024 at 4 p.m New York Time. The closing of the New Bonds Offering is expected to occur on Wednesday, August 14, 2013.
August 6th, 2013. The Oriental Republic of Uruguay announced today the commencement of a global offering of bonds due 2024 to be denominated in U.S. dollars. Uruguay intends to use a portion of the net proceeds of the sale of the New Bonds for the payment of the purchase price for Old Bonds subject to the terms and conditions contained in the Offer to Purchase.
For further information access the Press Release and the Offer to Purchase.
Click here to access Uruguay's Institutional Presentation.
MEF applies reserve requirement on CG local securities
June 7th, 2013. Click here to read Central Bank "Circular Nº2145" for further information (available in spanish). For information purposes only, click here for a free translation of the original document.
June 6th, 2013. The Ministry of Economy and Finance (MEF) decided to extend the reserve requirement to non-residents on local securities issued by the Central Government, already operating for Central Bank Securities. All individuals or legal entities that operate accounts of securities of non-residents in local currency issued by the Central Government in local currency, shall maintain funds frozen up to an amount of no less than 50%.
Click here to read the Macroeconomic Coordination Committee Press Release
Uruguay signed contingent credit line with IADB and strengthens its financial position
Click here to access the Press Release.
Uruguay prepaid IADB for USD 519 million
January 31st, 2013. On January 25th the Republic prepaid USD 519 million to the IADB for loans with interest rates higher than the current cost of funding of the country and with maturities below 2024. The prepayment was made under the new IADB reallocation program, through which prepayments generate additional space for new loans with the organism. The early cancellation makes room for a new Policy Loan with a Deferred Drawdown Option (PBL-DDO) for USD 550 million (currently under negotiation), a fast disbursing line to increase the Republic contingent financing. Moreover, this operation represented savings of USD39.2 million given the current funding-cost of the Republic in the international market at such maturities.
Uruguay already has contingent loans not yet disbursed with CAF for USD 400 million, with FLAR for USD 470 million and with World Bank for USD 520 million.
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