Overview
- Peru, which placed $4.5 billion in two U.S.‑dollar tranches on Tuesday, November 10, 2026, received investor orders topping $21 billion, making the largest dollar sovereign and sustainable‑bond sale in the country's history.
- The deal split into 12‑ and 30‑year tranches that carry coupons of 6.06% and 6.45% respectively, and tightened initial guidance from UST+160 basis points to about 42 bps (12‑year) and 40 bps (30‑year), with a negative new‑issue premium on the 12‑year.
- Proceeds will be used under Peru’s Sustainable Bond Framework approved in May 2026 to fund climate adaptation, disaster‑risk management including El Niño responses, resilient infrastructure and social programs.
- The Ministry of Economy and Finance launched a simultaneous exchange offer to swap global bonds maturing in 2027, 2030 and 2031 into a new bond due 2038 to extend maturities and ease near‑term refinancing pressures.
- Led by Citigroup, Crédit Agricole CIB, Deutsche Bank Securities and Santander and backed by more than 320 investor accounts, the operation is intended to lower future financing costs, strengthen long‑term dollar yield references and free resources for measures that protect vulnerable communities from climate shocks.