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Petroperú raises US$2bn from bond issue

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Petroperú raises US$2bn from bond issue

Peru's state oil company Petroperú placed bonds in the international market for US$2bn following an investor roadshow this month.

The bonds, demand for which reached US$10bn, were placed in two tranches of US$1bn each, one of which was for 15 years and will yield 4.75% and another for 30 years that will yield 5.625%, the NOC said in a statement.

"This transaction represents the first bond issue by a Peruvian company with a 30-year term," added Petroperú.

In May, the economy and finance ministry authorized the company to issue the bonds to help finance the modernization of the Talara refinery.

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