Moody's: Peru maintains positive image overseas

09:16 | Lima, Aug. 24.

Peru maintains a positive image in international markets as it has been reinforced by the government after it sold on Tuesday a $1.25 billion 12-year dollar-denominated sovereign bond, said Jaime Reusche, Vice President and Senior Analyst at Moody's Investors Services.

“The rate was quite favorable and reflects the good image Peru has in international markets,” he was quoted as saying by Andina news agency.

It should be noted the Global Bond 2027 was issued worth US$1.25 billion with a rate of return of 4.15%, a coupon rate of 4.125% and a price of 99.766%.

This new bond has established a liquid reference point for the middle section of Peru’s yield curve and its issuance had a demand of about US$5.4 billion, which was 4.3 times the amount offered.

Reusche underlined that the growth rate posted in June indicates the Peruvian economy will see a rebound in the second half, “as many expect.”

He said Peru’s growth domestic product is expected to grow by 3.6% this year, a higher rate than the one reported in 2014 (2.35%), which would suggest a recovery of the economy.


Published: 8/24/2015