Peru

The Peruvian subsidiary of Spanish group Telefónica will begin investor meetings on Thursday as it plans what would be the first ever global nuevo sol deal from a non-financial Peruvian corporate.

Peruvian business group Alicorp may soon join the sparsely populated Latin American new issue pipeline as it looks to refinance an acquisition-driven bridge loan in the capital markets. Yet Moody’s and Standard & Poor’s have taken differing views on the transaction.

Fishmeal producer Pesquera Exalmar has become the latest Peruvian corporate to opt for alternative sources of funding to refinance bonds after it used a syndicated loan to redeem its outstanding 2020s

Peruvian cement company Cementos Pacasmayo will buy back more than half its dollar bonds after an oversubscribed tender offer.

Peru set the final size of its new 10 year local currency benchmark at Sl10.35bn ($3.06bn) on Friday after allocating some Sl4.438bn of notes to investors participating in a tender for existing bonds.

Power generation and distribution company Nautilus Inkia is looking to give Latin America’s corporate bond markets one final burst of life in 2018, as it hits the road eyeing a 144A/Reg S senior unsecured offering.

Patience paid off for Peru on Thursday as its status as one of the safest economies in Latin America helped the sovereign to a new local currency benchmark that received strong interest from international investors.

Peruvian cement company Cementos Pacasmayo is trying to replace half its dollar bonds with a local currency bank loan.

Despite volatile market conditions, which usually make local currency issuance a tough sell, some bond investors say they have their eyes peeled for a Peruvian government nuevo sol trade after the sovereign completed a buy-back of dollar debt on Tuesday.

Despite volatile market conditions that usually make local currency issuance a tough sell, some bond investors say they have their eyes peeled for a Peruvian nuevo sol trade after the sovereign completed the buy-back of dollar debt on Tuesday.

The Republic of Peru may not have yet announced the dual-tranche dollar and nuevo sol trade that it is understood to be planning, but the sovereign opted this week to get going with liability management anyway.

Turkey made a successful return to international markets on Tuesday after six months away. The sovereign paid up for the privilege, but took an important step in returning financing conditions in the country to normal.