Andina

Peru successfully issues over US$3 billion bonds

10:42 | Lima, Nov. 22.

Economy and Finance Minister Maria Antonieta Alva has highlighted the successful issuance of Peruvian global bonds worth more than S/10.2 billion (about US$3.017 billion), which confirms the strength of the Inca country's economy.

"We are very pleased with the operation. The support for Peru was strong since the demand reached S/22 billion (around US$6.508 billion), far outstripping the supply," she told Andina news agency.

According to the government official, historical rates were recorded as part of this process. 

"This confirms investors' enormous confidence in the soundness of Peruvian economy amid a complicated international context and a certain amount of social unrest across the region," she stated.

Alva stressed that the operation was carried out in full accordance with the Law on Indebtedness and the Multiannual Macroeconomic Framework.

For his part, Public Treasury Director General at Peru's Economy and Finance Ministry Jose Olivares explained that around 60% of the placed bonds were oriented towards debt management.

"This means they will be destined to refinance the old debt at a lower financial cost. By doing so, we will be reshaping our debt with lower interest rates in order to generate savings," he added.

(END) SDD/JJN/RMB/MVB

Published: 11/22/2019
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