Peru’s Hochschild raises $350m

Peru’s Hochschild raises $350m

Bonds

Peruvian miner Hochschild raised $350m from the sale of a 7NC4 year bond on Wednesday. Investors placed around $1bn of orders for the deal from the Ba1/-/BB+ rated borrower, with strong demand coming from Latin American investors. Lead managers Bank of America Merrill Lynch, BBVA and Goldman Sachs priced the 7.75% 2021 to yield 7.875%. That was in from initial price thoughts of 8.5% area and guidance of 8%. Around half of the deal was allocated to Latin accounts, with most of the rest going to U

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