By Marisa Wong
Los Angeles, March 4 – Republic of Peru priced $1.75 billion of additional 2.783% global bonds due Jan. 23, 2031 as well as $2.25 billion of new global bonds in two tranches, according to FWP filings with the Securities and Exchange Commission.
The 2031 bonds priced at 100.412 to yield 2.734%, or a spread of 125 basis points over Treasuries.
The reopened bonds will be consolidated and form a single series with the $2 billion 2.783% bonds due 2031 issued on April 23, 2020.
Peru priced $1.25 billion of new 3.3% bonds due 2041 at 96.316 to yield 3.559%, or a spread of 140 bps over Treasuries.
The republic also sold $1 billion of 3.55% bonds due 2051 at 96.609 to yield 3.739%, or a spread of 145 bps over Treasuries.
BofA Securities, Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are the global coordinators, joint lead managers and joint bookrunners for the SEC-registered deal.
Proceeds will be used to finance general budgetary requirements for fiscal year 2021.
| Issuer: | Republic of Peru
|
| Issue: | Global bonds
|
| Amount: | $4 billion
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| Bookrunners: | BofA Securities, Inc., J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC
|
| Pricing date: | March 3
|
| Settlement date: | March 10
|
| Distribution: | SEC registered
|
|
|
| 2031 add-on
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| Amount: | $1.75 billion
|
| Maturity: | Jan. 23, 2031
|
| Coupon: | 2.783%
|
| Price: | 100.412
|
| Yield: | 2.734%
|
| Spread: | 125 bps over Treasuries
|
| Call features: | Make-whole call at Treasuries plus 35 bps prior to Oct. 23, 2030; par call after that
|
| Total issuance: | $3.75 billion, including $2 billion issued on April 23, 2020
|
|
|
| 2041 bonds
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| Amount: | $1.25 billion
|
| Maturity: | March 11, 2041
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| Coupon: | 3.3%
|
| Price: | 96.316
|
| Yield: | 3.559%
|
| Spread: | 140 bps over Treasuries
|
| Call features: | Make-whole call at Treasuries plus 25 bps prior to Sept. 11, 2040; par call after that
|
|
|
| 2051 bonds
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| Amount: | $1 billion
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| Maturity: | March 10, 2051
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| Coupon: | 3.55%
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| Price: | 96.609
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| Yield: | 3.739%
|
| Spread: | 145 bps over Treasuries
|
| Call features: | Make-whole call at Treasuries plus 25 bps prior to Sept. 10, 2050; par call after that
|
|
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