Peru Returns to Global Bond Market for First Time Since 2012
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Peru is tapping the international bond market for the first time in two years as it buys back debt to reduce borrowing costs and extend maturities before the U.S. Federal Reserve begins raising interest rates.
Peru sold today $500 million of its dollar-denominated notes due 2050 to yield 1.85 percentage points over U.S. Treasuries, according to a person familiar with the matter, who isn’t authorized to speak publicly and asked not to be identified. The government said in a statement that it also plans to sell sol-denominated notes due in 2024. That offering will be worth at least the equivalent of $500 million, the Finance Ministry said in a separate statement.