Milpo Mines Sub-5% Yield

Milpo Mines Sub-5% Yield

Peru Bonds

Compania Minera Milpo has raised $350m in new 2023 bonds, getting more than $1bn in orders in its debut in the international bond market. The BBB/BBB minus Peruvian miner priced at par with a 4.625% coupon, to yield tight to 4.875%-area indications. The bonds traded up 0.5 points in the grey Thursday, an investor says. The deal was comped to Volcan’s (Baa3) 2022 bonds, which were seen trading to yield 4.350%. “Milpo should trade slightly behind Volcan, and left around 10bp on the table which isn

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