Uruguayan pension fund goes supranational for second time

The product is issued by the International Bank for Reconstruction and Development (IBRD), a triple A-rated issuer and one of five divisions of the World Bank, while Société Générale acted as dealer on the transaction.

The Uruguayan government passed a law in 2007 allowing local pension funds, for the first time in 12 years, to invest up to 15% of their portfolio in international debt issued by supranationals of which Uruguay is a member.

The 18-month note is linked to the euro/dollar exchange

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