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NEW YORK, Sept 28 (IFR) - Peru has set initial price thoughts of 6.625% area on a benchmark local currency 12-year bond ahead of expected pricing on Wednesday, according to one of the banks on the deal.
The bond, which is being sold to foreign investors, is part of a liability management transaction to exchange or tender for outstanding sol and US dollar denominated bonds.
BBVA, Bank of America Merrill Lynch and HSBC are leads on the transaction. The country's foreign-currency ratings are A3/BBB+/BBB+, while its local currency ratings are A3/A-/A-. (Reporting by Paul Kilby; Editing by Marc Carnegie)