Peru Goes Long in Local Issue

Peru has sold PES300m ($105m) in new 2042 domestic bonds, which the government claims are now the longest-dated local maturity in the region. The notes were auctioned at par and have a 6.85% coupon. Orders reached PES756m. The sovereign will use proceeds to finance public-sector investment projects being carried out by regional governments. “Investor reception to the offer of the government bonds reflects the confidence of the market in the solidity of the county’s macroeconomic fundamentals,” it adds.