Scarcity sees Peru clinch record yield but low tender take-up

Peru, nuevo sol, local currency, LAtAm
By Oliver West
17 Jun 2019

Peru’s return to dollar bond markets after four years on Thursday saw it clinch its lowest ever yield and price flat to or even inside its better rated neighbour Chile. Yet so sought after is Peru’s hard currency paper that the government is having a tough time persuading bondholders to let go.

On Friday the sovereign announced the results of the tender offer that it was running alongside the new issue. 

On Thursday, Peru had priced $750m of new dollar bonds maturing in 2030 and S756.4m ($227m) of new Euroclearable 2034 sol-denominated notes. Once it included tender offer participants who ...

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