. . . Sets Terms on Exchange

Peru is set to price Friday its swap targeting almost $4 billion in bonds. The spreads have been locked in as follows: the 8.375% 2016 notes will be priced at 119 basis points over U.S. Treasuries and the 8.75% 2033 notes at 163 basis points, both of which will be issued in exchange for 2012 bonds. The Global 2037 notes, exchangeable for two classes of Brady bonds, will be priced at 175 basis points over. Citi and Deutsche Bank are managing the offering.