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NEW YORK, Oct 30 (IFR) - The Republic of Peru has set initial price thoughts of Treasuries plus 190bp area on a tap of its 5.625% November 2050 dollar-denominated global bond, according to market sources.
The financing, which is expected to be rated A3 by Moody's and BBB+ by both S&P and Fitch, is led by BBVA, Bank of America Merrill Lynch and Morgan Stanley and is expected to price on Thursday.
The deal is running in tandem with a new 10-year sol-denominated bond, on which initial price thoughts were announced at 6% area earlier today.
The sovereign will use proceeds from the new issue to buy back some of its local and global bonds with maturities ranging from 2015 to 2020 as well as for general budgetary purposes.
The same bookrunners are managing that issue, which is also expected to price today. (Reporting by Davide Scigliuzzo and Joy Wiltermuth; Editing by Natalie Harrison)