Minister of Economy and Finance Elmer Cuba announced that Peru has successfully placed global sustainable bonds in the international market, totaling US$ 4.5 billion with maturities of 12 and 30 years. This represents the largest issuance in this currency to date, with coupon rates of 6.06% and 6.45%, respectively.
The transaction received strong support from international investors, with demand exceeding US$ 21 billion—the highest level since the issuances carried out during the pandemic and the second-highest in the country's history.
The offering was oversubscribed by more than seven times the amount initially planned by the Republic, and nearly five times the final amount placed.
The operation attracted significant participation, with over 320 domestic and international investors accounts, which helped to substantially optimize the terms of the issuance in Peru’s favor.
Due to this high demand, the initial spread over U.S. Treasuries (UST +160 bps)—for both the 12-year and 30-year bonds—was reduced to 42 basis points (bps) for the first tranche and 40 bps for the 30-year tranche. This resulted in a negative new-issue premium for the 12-year bond and no premium for the 30-year bond.
“We have achieved one of the lowest interest rate spreads in our history. The confidence shown by international investors has been extraordinary; we received demand exceeding US$ 21 billion—more than seven times the amount initially planned and nearly five times the final amount placed,” said minister Cuba.
The issuance was carried out under Peru’s new Sustainable Bond Framework, approved in May 2026. The categories linked to this issuance will primarily relate to climate change adaptation, disaster risk management, and resilient infrastructure—including measures to address the El Niño phenomenon.
Furthermore, this issuance will help fund programs and projects aimed at narrowing social gaps, strengthening protection for the most vulnerable populations, and fostering more inclusive and sustainable economic growth.
Minister Elmer Cuba stated that this placement represents the largest sustainable bond issuance in U.S. dollars by a Latin American country. This underscores the nation’s solid standing in the region and serves as a significant signal of confidence and strength within the current international financial landscape.
“Peru continues to inspire confidence in international financial markets and maintains its ability to access long-term financing on competitive terms. This is excellent news for the country,” he noted.
In addition to this placement, Peru launched an exchange offer for U.S. dollar-denominated global bonds maturing in 2027, 2030, and 2031, swapping them for new securities maturing in 2038. This initiative is intended to improve the public debt profile and strengthen long-term benchmarks along the foreign-currency yield curve.
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(END) NDP/CNA / MDV
Published: 11/10/2026