NEW YORK, Sept 28 (IFR) - Peru launched a 806.826m sol (US$239.24m) 12-year local bond at a 6.375% yield on Wednesday, a bank on the deal told IFR.
The deal, which is part of a liability management transaction, will grow in size once the exchange portion of the transaction is completed.
Final pricing is 25bp tighter than guidance of 6.625% area.
Holders are being offered the chance to sell back their existing bonds for cash or switch into the new security.
The borrower is targeting sol denominated sovereign bonds maturing in 2017, 2020, 2023 and 2026, as well as dollar bonds maturing in 2019, 2025, 2033 and 2037.
Purchase prices on the tender were set at 104.50, 116.50, 101.20, 118.15, 115.30, 139.15, 161.10 and 140.30.
BBVA, Bank of America Merrill Lynch and HSBC are leads on the transaction. Its local currency ratings are A3/A-/A-. (Reporting By Paul Kilby; editing by Shankar Ramakrishnan)