BBVA Peru Hits Wide End

BBVA Peru Hits Wide End

Brazil Peru Bonds

Peru’s BBVA Continental has raised less than expected from a $300m bond sale during a challenging day full of bad headlines about European sovereign debt and Brazilian banking concerns. Continental sold $300m of the new 2020s, after communicating a “benchmark” size the day before, on the back of more than $700m in demand, according to bankers on it. The BBB/BBB minus 2020 priced at 99.220 with a 5.500% coupon to yield 5.603%, or UST plus 300.0bp, the wide end of 287.5bp area guidance. Investors

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