Cofide Dusts off Bond Plans

Peru’s government development bank Cofide will begin roadshows today for its long-awaited $500m 10-year bond. Meetings will start in Santiago. The borrower will then head to Los Angeles and London, and finish in New York and Boston on Tuesday. The deal has been on the backburner since Ollanta Humala’s victory in the June presidential elections left investors uncertain about which direction the populist politician would steer the economy. Now with those concerns somewhat assuaged, Cofide is ready to move forward after completing talks with auditors. Deutsche Bank and JPMorgan have been mandated on the 144a/RegS trade, expected to come with a BBB rating.