Real Estate
Uruguay Builder Sells $40 Million in Bonds for Wealthy Enclave
- La Tahona Desarrollos sells seven-year bonds paying 8.25%
- Company will use money to expand its flagship gated community
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Uruguay real estate developer La Tahona Desarrollos SA sold $40 million in bonds to local and international investors just days before a controversial pension vote that could upend the South American country’s capital markets and public finances.
La Tahona will use the proceeds to build offices and homes for local and foreign clients at its flagship gated community near the capital Montevideo, said Director Ignacio Añon, whose family owns the company.