Peru talks taps of dollar 5 5/8% notes, Peruvian sol 6.95% notes

By Christine Van Dusen

Atlanta, March 19 – Peru set initial talk for two issues of notes, a tap of its dollar-denominated 5 5/8% notes due Nov. 18, 2050 (A3/BBB+/BBB+) and a tap of its 6.95% Peruvian nuevo sol-denominated notes due Aug. 12, 2031 (expected ratings: A3/A-/A-), a market source said.

The 2050 notes were talked at a spread in the Treasuries plus 237.5 basis points area.

BBVA, Deutsche Bank and Morgan Stanley are the bookrunners for the Securities and Exchange Commission-registered deal.

The proceeds will be used to refinance a portion of the sovereign’s general financial requirements for 2016.

The 2031 notes were talked at a yield in the 7% area.

BBVA, Deutsche Bank and Morgan Stanley are the bookrunners for the Rule 144A and Regulation S transaction.

Both tranches of the notes are expected to price on Thursday.

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