City of Lima Sounds US Accounts

The City of Lima has been sounding out the US buyside about an international bond, says one investor who has talked to municipal officials about such a possibility. Citigroup has been coordinating some discussions, according to this investor, but other banks are also heard talking to the borrower. The municipality is thought to be considering a debut $500m in sol-denominated bonds. Fitch rates the City of Lima’s foreign and local currency long-term debt at BBB minus.