IIRSA Norte Places $213 Million Bonds To Fund Infrastructure

IIRSA Norte Places $213 Million Bonds To Fund Infrastructure

Peru

Peruvian toll-road concessionaire IIRSA Norte has successfully sold $213 million of securitized bonds under 144A rules in the US to mainly European and US investors. The bonds are backed by the issuance of certificates of annual payments (so-called certificados de reconocimientos de pago annual de obras – CRPAOs) made to the concessionaire by the government of Peru to compensate for construction progress. This the first time a Peruvian company has raised financing via this type of financing mech

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