Uruguay is second Latin American country to issue bonds in Japan with no guarantee from JBIC

The Uruguayan government completed a public offering bond issue in the Japanese market for ¥50 billion (US$442 million). The agreed maturities range from 3 to 15 years at an average annual interest rate of 0.71%.

RIO DE JANEIRO, BRAZIL - Uruguay's Ministry of Economy and Finance on Thursday issued a press release announcing that the transaction was completed on Wednesday (01).

The statement highlighted that, despite living in a context of uncertainty and volatility both regionally and globally after the emergence of the Omicron variant of Covid-19, the Uruguayan government accessed the Japanese bond market with no guarantees from the Japan Bank for International Cooperation (JBIC).

The fact that it did not require the JBIC guarantee implies that Uruguayan bonds are sufficiently reliable for Japanese investors.

"Through this operation, the government secured the largest . . .

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