DEAL OF THE YEAR: Corporate High-Yield Bond

DEAL OF THE YEAR: Corporate High-Yield Bond

Peru Bonds Corporate & Sovereign Strategy

Debt capital markets have been driven more than ever by a search for yield in recent years. For investors looking at weaker credits, the hunt is for solid businesses with convincing growth stories. This has offered plenty of opportunities for borrowers that have been able to raise debt at levels that would have been unthinkable just a few years ago. Emerging market investors took notice of Corporación Azucarera del Perú’s (Coazucar) $325 million 2022 non-call five bonds in July, eagerly filling a book that reached $4.5 billion – and demonstrating that appetite continues to exist for strong high-yield credits, particularly those from outside of Brazil and Mexico. Coazucar was able to use

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