Republic of Peru Announces Results of Tender Offers
LIMA, Peru, Nov. 30, 2018 /PRNewswire/ -- The Republic of Peru ("Peru"), in accordance with its previously-announced offer (the "Offer") dated November 29, 2018, to purchase for cash (i) sovereign bonds or Bonos Soberanos (the "Bonos Soberanos"), including Bonos Soberanos in the form of Global Depositary Notes ("GDNs") previously issued by Citibank N.A. and (ii) global bonds (the "Global Bonds"), in each case as set forth in the tables below (the Bonos Soberanos, GDNs and Global Bonds, collectively the "Bonds"), announced today that the Offer expired as scheduled at 11:00 a.m. New York City time, on November 29, 2018 in the case of the Non-Preferred Tenders and the Global Bonds Cash Tenders and at 1:00 p.m. New York City time, on November 29, 2018 in the case of the Preferred Tenders. Capitalized terms used but not defined in this press release have the meanings specified in the Offer.
In accordance with the Offer, Peru has determined the Maximum Purchase Amount of eligible Bonos Soberanos, including in the form of GDNs, and Global Bonds applicable to the Offer to be approximately S/4,450,154,000 and US$500,000, respectively. Peru priced a new issue of its 5.94% Bonos Soberanos due 2029 in an aggregate principal amount of approximately S/10,350,000,000 (the "New Bonds"), of which approximately S/4,437,859,000 are expected to be allocated to holders who validly tendered their Bonds in the Offer and who submitted orders to receive New Bonds. The purchase price to be paid for each U.S.$1,000 or S/1,000, as applicable, principal amount of each series of Bonds tendered by holders and accepted pursuant to the Offer, was set forth in a previous press release.
For convenience, set forth below are the maturity date, outstanding aggregate principal amounts, ISIN, CUSIP, Common Code and NEMONICO, as applicable, for each Bond that was subject to the Offer:
Bonds(1) |
Maturity Date |
Outstanding |
ISIN |
CUSIP |
Common Code |
NEMONICO |
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7.84% Bonos Soberanos |
8/12/2020 |
S/4,400,890,000 |
PEP01000CY33 |
— |
— |
SB12AGO20 |
||||||
7.84% GDNs due 2020 |
8/12/2020 |
— |
144A: US715638AZ51 Reg S: US715638BA91 |
144A: Reg S: |
144A: Reg S: |
— |
||||||
6.0% Bonos Soberanos due |
2/12/2029 |
S/1,644,823,000 |
PEP01000C4Q6 |
— |
— |
SB12FEB29 |
||||||
6.0% GDNs due 2029 |
2/12/2029 |
— |
144A: US715638BQ44 Reg S: USP87324BN19 |
144A: 715638BQ4 Reg S: |
144A: N/A Reg S: 110523017 |
— |
||||||
7.125% Global Bonds due |
03/30/2019 |
U.S.$149,214,000 |
US715638AW21 |
715638AW2 |
040585940 |
— |
(1) |
The Global Bonds are admitted to trading on the Euro MTF Market of the Luxembourg Stock Exchange. |
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(2) |
These amounts may include Bonds held by institutions and companies controlled by the Peruvian Government that have not been cancelled. |
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The table below sets forth the aggregate principal amount of preferred and non-preferred tenders for each series of Bonos Soberanos, , including in the form of GDNs, the pro ration factor for each such series, and the amounts accepted for preferred and non-preferred tenders.
Bonds |
Aggregate Principal Amount |
Proration Factor |
Aggregate Principal |
Aggregate Principal |
||||
7.84% Bonos Soberanos |
S/2,527,890,000 / S/263,799,000 |
100% / 100% |
S/2,527,890,000 |
S/263,799,000 |
||||
7.84% GDNs due 2020 |
S/48,759,000 / S/3,850,000 |
100% / 100% |
S/48,759,000 |
S/3,850,000 |
||||
6.0% Bonos Soberanos |
S/1,605,856,000 / N/A |
100% / N/A |
S/1,605,856,000 |
N/A |
||||
6.0% GDNs due 2029 |
N/A / N/A |
N/A / N/A |
N/A |
N/A |
The table below sets forth the aggregate principal amount of tenders of the Global Bonds, the pro ration factor, and the amounts accepted for Global Bonds Cash Tenders.
Bonds |
Aggregate Principal Amount Tendered |
Proration Factor |
Aggregate Principal Amount of Cash Tenders |
||||
7.125% Global Bonds |
U.S.$500,000 |
100% |
U.S.$500,000 |
The dealer managers for the Offer are: |
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J.P. Morgan Securities 383 Madison Avenue New York, NY 10179 |
Morgan Stanley & Co. 1585 Broadway New York, NY 10036 |
Santander Investment 45 East 53rd Street, 5th Floor |
Scotiabank Peru S.A.A. Av. Dionisio Derteano No. 102 San Isidro, Lima |
Scotia Capital (USA) Inc. 250 Vesey Street New York, NY 10281 |
Attention: Liability In the United States (toll +1 866-846-2874 Outside the United States +1 212-834-7279 |
Attention: Liability In the United States (toll +1 800-624-1808 Outside the United States +1 212-761-1057 |
Attention: Liability Management In the United States (toll free): +1 855-404-3636 Outside the United States + 1 212-940-1442 |
Attention: Debt Capital United States or Outside the +511 211-6040, ext. 18151 or +511 207-2630 |
Attention: Debt Capital In the United States (toll +1 800-372-3930 Outside the United States +1 212-225-5559 |
The Billing and Delivery Banks for the Offer are: |
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For Bonos Soberanos |
For GDNs |
For Global Bonds |
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Scotiabank Peru S.A.A. |
J.P. Morgan Securities plc c/o |
Morgan Stanley & Co. LLC |
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Av. Derteano No. 102 |
J.P. Morgan Securities LLC |
1585 Broadway |
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San Isidro, Lima 27 |
383 Madison Avenue |
New York, NY 10036 |
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Peru |
New York, NY 10179 |
United States |
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United States |
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This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be a sale of the securities referenced in this communication in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
SOURCE Republic of Peru
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