Peru buyback comes up short

Peru buyback comes up short

Bonds Debt Capital Markets Corporate & Sovereign Strategy Fixed Income Peru

Peru said it has agreed to buy back $246m in 7.125% 2019 bonds, short of the $396m in outstanding notes that mature at the end of March next year. The sovereign issuer had offered to pay bondholders $1,025.50 for every $1,000 in notes tendered plus any accrued and unpaid interest. The offer expired on November 5. JPMorgan, Morgan Stanley, Santander and Scotiabank were the dealer managers, the same four banks that took Peru to meetings with investors in early October. Peru could come to the cross

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