Rutas de Lima goes large in local market

Rutas de Lima goes large in local market

Bonds Project & Infrastructure Finance

Peruvian road builder Rutas de Lima has sold what is thought to be the largest-ever local currency bond in the Andean country. The public-private partnership sold a PEN1.46bn ($520m) senior secured bond. That was split into a 22-year 8.375% tranche with 144A/RegS documentation, and a 25-year tranche with an inflation-linked 5.25% coupon. BBVA, Credicorp Capital and Goldman Sachs structured the bond for the toll-road project. Rutas de Lima raised an additional $200m through a 15-year senior secur

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