Peru Raises $110.6m Through Domestic Reopening

Peru reopened its local 2020s bond issue to raise a total of 350m soles ($110.6m) in the local market on Tuesday, selling at a yield of 5.78%. Demand was heard at 550m soles. The sovereign had hoped to sell 280m soles ($88.5 million) but extended the sale in the face of the strong demand. Last month Peru raised 360m soles ($113m) from the tap of two of its local-currency bonds. The sovereign sold 270m soles in 2026s to yield 6.14% and 90m soles in 2046s to yield 3.25%. Demand for the paper was 448m soles and 274m soles, respectively. The government is authorized to sell up to 2.33bn soles of local-currency paper this year.