By Reshmi Basu
New York, July 13 - The Republic of Peru sold $750 million of 20-year bonds (Ba3/BB/BB) at par to yield 7.35%, according to a market source.
The deal priced inside initial price guidance. Guidance had been set at 7 3/8% to 7½% Wednesday morning.
JP Morgan and UBS Investment Bank ran the offering of Securities and Exchange Commission-registered bonds.
The new issue is part of the government's plan to prepay $1.55 billion of debt owed to the Paris Club of creditor nations.
Issuer: Republic of Peru
| Amount: | $750 million
|
| Issue: | Sovereign bonds
|
| Maturity: | July 21, 2025
|
| Coupon: | 7.35%
|
| Issue price: | Par
|
| Yield: | 7.35%
|
| Spread: | Treasuries plus 295 basis points
|
| Pricing date: | July 13
|
| Settlement date: | July 19
|
| Bookrunners: | Moody's: Ba3
|
| Standard & Poor's: BB
|
| Fitch: BB
|
| Price guidance: | 7 3/8% to 7½%
|
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