Peruvian Bond Debutant Bottles Massive Demand
May 9, 2012
Peru’s Ajecorp generated close to $2.6bn in orders for its $300m international bond debut, ratcheting down its yield well below expectations. The 2022 NC5 priced at par with a 6.50% coupon, to yield at the tight end of 6.50%-area guidance, which had been revised from 6.75%, and followed 7.00% whispers. “Great deal and great momentum,” says an EM investor following...
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