Peru Reportedly Sees Window for Bonds

Peru’s government finds January to be an opportune moment for a bond sale, its Finance Minister Luis Valdivieso told a news conference Thursday, according to wire reports. The government is weighing the “liquid” investor books at the moment against financing costs, Valdivieso says, and is very close to making a decision regarding an issue. He adds that Peru does not need the cash, but the sovereign wants to take advantage of current market conditions. After meeting investors on several continents in December and January, the sovereign is expected to issue $600m-$1bn in new bonds, having stated a preference for a 30-year issue. New York DCM sources tell LatinFinance that a 10-year would be much more doable, and Peru might be hesitant following last week’s $1bn Brazil 10-year offering which, though successful, highlights difficulties with price discovery. Peru registered a $5bn shelf with the SEC on Monday. JPMorgan and Goldman Sachs managed Peru’s “non-deal” roadshow.