Shearman And Sterling

News July 03, 2019

Peru’s Sovereign and Global Bond Issuance

Shearman & Sterling represented HSBC Securities (USA), Morgan Stanley, Santander Investment Securities, Scotiabank Peru and Scotia Capital (USA) as underwriters in connection with Peru’s $2.5 billion issuance of sovereign and global bonds.

Peru sold S/5.8 billion soles ($1.75 billion) in sol-denominated sovereign bonds due in 2034. They were issued at a 5.4 percent interest rate, a record low rate for a sol-denominated issuance.

The sovereign also issued $750 million in USD-denominated bonds due in 2030, issued at a 2.84 percent rate. This is also the lowest rate for a USD-denominated international issuance for Peru.

The Shearman & Sterling team below included visiting attorney Gonzalo Paredes.

The Team