LIMA, Peru, June 26, 2024 — The Republic of Peru (“Peru“), in accordance with its previously-announced offers to (i) exchange certain of Peru’s outstanding sovereign bonds or bonos soberanos (the “Existing Bonos Soberanos“), including bonos soberanos in the form of Global Depositary Notes (each, a “GDN”) previously issued by Citibank, N.A., as depositary (the “Existing GDNs” and, together with the Existing Bonos Soberanos, the “Existing Bonds”) for a new series of Sol-Denominated sovereign bonds or bonos soberanos due 2039 (the “New Bonos Soberanos“) (including new GDNs (the “New GDNs” and, together with the New Bonos Soberanos, the “New Bonds”)) (collectively, the “Exchange Offers” and each, an “Exchange Offer”) and/or (ii) purchase for cash the Existing Bonds (collectively, the “Cash Tender Offers,” and each, a “Cash Tender Offer”), in each case, as set forth in the table below, today announced that the Exchange Offers and Cash Tender Offers expired as scheduled at 5:00 p.m. New York City time, on June 25, 2024. The Exchange Offers and Cash Tender Offers are referred to collectively herein as the “Offers.” The Offers are being conducted upon terms and subject to certain conditions set forth in the Exchange and Tender Offering Memorandum dated June 18, 2024 and the press release issued on June 18, 2024. Capitalized terms used but not defined in this press release have the meanings specified in the Exchange and Tender Offering Memorandum.
|
Existing Bonds |
Aggregate Principal Amount Tendered |
Aggregate Principal |
|
5.700% Bonos Soberanos due 2024 |
S/1,350,301,000
|
S/1,831,394,000
|
|
5.700% GDNs due 2024(1) |
S/8,055,000
|
–
|
|
8.200% Bonos Soberanos due 2026 |
S/1,405,710,000
|
S/1,465,005,000 |
|
8.200% GDNs due 2026(1) |
S/192,500,000
|
S/41,314,000
|
|
6.350% Bonos Soberanos due 2028 |
S/2,195,188,000
|
S/1,854,697,000
|
|
6.350% GDNs due 2028(1) |
S/22,000
|
S/243,315,000
|
|
5.940% Bonos Soberanos due 2029 |
S/3,084,158,000
|
S/1,249,398,000 |
|
5.940% GDNs due 2029(1) |
–
|
S/424,114,000
|
(1) Each GDN represents one Bono Soberano of S/1,000 in principal amount
The Exchange Consideration and Purchase Price in the Offers were set forth in a previous press release. Pursuant to the terms of the Offers, the currency exchange rate used to convert the applicable Soles amounts to U.S. dollars was set at S/3.800 per 1.00 U.S. Dollar with respect to the Purchase Price, Accrued Interest and Cash Rounding Amount, as applicable, for the Existing Bonds in the form of GDN. The Settlement Date for the Offers is expected to be July 1, 2024.
The table above sets forth, for each series of Existing Bonds, the aggregate principal amount tendered and accepted in the Exchange Offers and the aggregate principal amounts tendered and accepted in the Cash Tender Offers. Peru has accepted all Existing Bonds validly tendered in the Offers.
Peru is making the Offers only in those jurisdictions where it is legal to do so. The Offers are void in all jurisdictions where such Offers are prohibited. If materials relating to the Offers come into your possession, you are required by Peru to inform yourself of and to observe all of these restrictions.
The New Bonds have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or any state securities laws. Accordingly, the Offers will only be directed, and copies of the offering documents will only be made available, to a holder of the Existing Bonds who has certified its status as (1) a “qualified institutional buyer” in reliance on Rule 144A under the Securities Act or (2) a non-U.S person in offshore transactions in reliance on Regulation S under the Securities Act. Terms used in this paragraph have the meanings given to them by Rule 144A and Regulation S under the Securities Act.
The materials relating to the Offers do not constitute, and may not be used in connection with, an offer or solicitation in any place where offers or solicitations are not permitted by law.
FURTHER INFORMATION
The Tender, Exchange and Information Agent for the Offers is:
Global Bondholder Services Corporation
65 Broadway – Suite 404
New York, NY 10006
United States of America
Attention: Corporate Actions
Banks and Brokers call: (212) 430-3774
Toll free: (855) 654-2014
Email: [email protected]
https://gbsc-usa.com/eligibility/peru
The Peruvian Market Maker for the Offers is:
Banco Santander Perú S.A.
Av. Rivera Navarrete 475 Piso 14,
San Isidro, Lima, Perú
Email: [email protected]
The Issuer for the Offers is:
Ministerio de Economía y Finanzas del Perú
Jr. Junín No. 319
Lima, Perú
Email: [email protected]
DISCLAIMER
The Exchange and Tender Offering Memorandum is not for release, publication or distribution to any person located or resident in any jurisdiction where it is unlawful to distribute the Exchange and Tender Offering Memorandum. Persons into whose possession any Exchange and Tender Offering Memorandum comes are required by Peru, the Dealer Managers and the Tender, Exchange and Information Agent to inform themselves about, and to observe, any such restrictions.
This announcement is neither an offer to purchase nor the solicitation of an offer to sell any of the securities described herein, nor shall there be any offer or sale of such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Offers were made solely pursuant to the Exchange and Tender Offering Memorandum dated June 18, 2024.
This announcement is for distribution only to persons who (i) have professional experience in matters relating to investments falling within the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the “Order”), (ii) are persons falling within Article 49(2)(a) to (d) (“high net worth companies, unincorporated associations etc.”) of the Order, (iii) are persons falling within Article 43 of the Order, (iv) are outside the United Kingdom, or (v) are persons to whom an invitation or inducement to engage in investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000) may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to as “relevant persons”). This announcement is directed only at relevant persons and must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this document relates is available only to relevant persons and will be engaged in only with relevant persons.
This announcement contains forward-looking statements and information that is necessarily subject to risks, uncertainties and assumptions. The offers are subject to conditions precedent and no assurance can be given that the transactions described herein will be consummated on the dates or the terms described herein. Peru assumes no obligation to update or correct the information contained in this announcement.
SOURCE The Republic of Peru
