Peru tightens pricing on 2024, 2050 bond issues

jueves 30 de octubre de 2014 15:36 GYT

NEW YORK, Oct 30 (IFR) - The Republic of Peru has revised terms on a reopening of its US dollar-denominated 2050 bond and on a new issue of sol-denominated 10-year notes, according to market sources.

The sovereign has launched a US$500m tap of its 5.625% 2050 global bond at the final spread of 185bp over US Treasuries, tight to initial price thoughts of 190bp area.

It has also set yield guidance of 5.875% area on a new sol-denominated 10-year bond that will settle in US dollars, tight to initial price thoughts of 6% area.

Peru 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.

BBVA, Bank of America Merrill Lynch and Morgan Stanley are the bookrunners on the transaction, which is expected to price on Thursday. (Reporting by Davide Scigliuzzo; Editing by Paul Kilby)