Peruvian Lands Securitization

Peruvian Lands Securitization

Peru Bonds Structured Finance

A project for Peruvian government-backed health service EsSalud has raised $229.4m through the sale of 2029 bonds. Utilizing a structure similar to IIRSA’s 2008 road construction financing, the Peru Payroll Deduction special purpose vehicle has issued a zero-coupon bond, which ultimately provides investors with a return equivalent to a 5.5% yield, in line with 5.5%-area guidance. Investors were heard putting in for about $500m in orders, with buyers coming 33% from LatAm, 33% from the US and 33%

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