Republic of Peru Announces Exchange Offer for USD-Denominated Bonds
The Republic of Peru has officially commenced an offer to exchange several series of its outstanding U.S. dollar-denominated global bonds for a new series of bonds due in 2038. The eligible debt includes the 4.125% bonds due 2027, the 2.844% bonds due 2030, and the 2.783% bonds due 2031, representing a combined principal amount of approximately $3.7 billion. The exchange consideration and the coupon rate for the new 2038 bonds are yet to be announced and will be disclosed following the pricing of the new bonds being offered for cash. Holders who participate in the exchange will also receive accrued interest on their existing bonds, payable in cash at settlement. The offer period is scheduled to run from November 9, 2026, until November 17, 2026. The process is subject to proration and modification at the discretion of the Peruvian government.
Topics: bond exchange debt restructuring government bonds sovereign debt
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