Transmission Operator Tightens DCM Debut

Transmission Operator Tightens DCM Debut

Peru Bonds

Consorcio Transmantaro has raised $450m in its first visit to the international bond market, getting about $1.5bn in orders and offering buyers another new play on Peruvian growth expectations. The Baa3/BBB minus electricity transmission operator priced the 2023 at 99.002 with a 4.375% coupon to yield 4.500%, at the tight end of 4.625%-area guidance that followed 4.75%-area talk. The final level was seen as tight by many on the buyside, though some found it offered a pickup to 40%-owner Empresa

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