Peru

With local currency devaluations hurting dollar bond issuers across Latin America, Peruvian sugar cane producer Corporación Azucarera del Perú (Coazucar) has launched a tender offer for up to $165m of international bonds.

Though this month has been one the quietest Augusts in the memory of many Latin America bankers, Peru was correct to anticipate US rate rises by issuing its first new dollar benchmark since 2010 on Tuesday, they said.

The Republic of Peru took advantage of a deserted primary bond market in Latin America to issue its first new dollar benchmark since 2010 on Tuesday.