June 14, 2019 / 12:08 AM / 4 months ago

Peru sells $2.5 bln worth of sovereign and global bonds -source

LIMA, June 13 (Reuters) - Peru sold $2.5 billion worth of bonds this week, including $750 million in dollar-denominated global bonds, a government source with knowledge of the operation told Reuters on Thursday.

The government of Peru on Tuesday authorized up to $3.5 billion worth of bond issuances to help improve its debt profile and finance next year’s budget.

As part of the operation, Peru sold nearly 6 billion soles ($1.75 billion) in sol-denominated sovereign bonds expiring in 2034, with demand for them climbing to nearly 20 billion soles, said the source, who asked not to be named because an official announcement from the government had not yet been made.

The sol-denominated bonds were issued at a 5.4% interest rate, a record low for notes in the local currency, the source said.

Peru also issued $750 million in dollar-denominated bonds that expire in 2030, the source said. The dollar bonds drew $4 billion in orders and were sold at a 2.84% interest rate, he said.

Peru is one of Latin America’s most stable and fast-growing economies.

Reporting by Marco Aquino; Writing by Mitra Taj; Editing by Peter Cooney

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