Bonds
Peru to Take Over Petroperu’s Remaining Debt Payments This Year
- Government announced aid package for cash-strapped oil company
- Finance ministry also to take charge of $800 million in loans
The Petroleos del Peru SA Talara refinery in Piura, Peru.
Photographer: Sebastian Castaneda/BloombergThis article is for subscribers only.
The Peruvian government announced an aid package for ailing state-owned company Petroleos del Peru SA on Saturday, putting the state on the hook for repaying international bondholders, while forgiving some loans and increasing its credit line.
Peru’s finance ministry will now be in charge of paying any installments due in the second half of the year with bondholders and the Spanish Export Credit Agency (Cesce), the decree said.