Wow! Seems like just yesterday Peru’s hard currency debt was trading at 8 cents. Actually, it was 1993. Remember President Alberto Fujimora? Bloomberg writes,
Peru plans to sell 40-year debt in the international market for the first time as part of dollar and sol-denominated bonds it may issue as soon as tomorrow to take advantage of demand for higher-yielding debt.
The government will sell benchmark dollar bonds due in 2050 and at least $500 million more of 7.84 percent sol bonds due in August 2020, according to a person familiar with the transaction, who declined to be identified because terms aren’t set. Bank of America Corp. and Morgan Stanley are arranging the bond sale, the person said
It has been a long volatile cycle with lots of bailouts in between.