Peru To Issue $832 Million Debt

Meanwhile, Peru is planning to tap the domestic and international debt markets before Christmas to raise up to $832 million. The bonds are expected to have maturities of between 15 and 20 years. The money will be used to settle its debt with Japan Peru Oil Corporation (Japeco) arranged in the 1970s to build an oil pipeline for state-owned PetroPeru. The international tranche of the sovereign issue will be arranged by Citigroup Global Market Inc.