Estudio Echecopar, member firm of Baker McKenzie International, advised the Republic of Peru on an aggregate principal amount of USD 4 billion sovereign bond issuance, which include a 100-year tranche.

The total amount of the transaction was divided in three tranches: (i) USD 1 billion worth of notes, which mature in 2032 with an interest of 1.86% (ii) USD 2 billion, with a 40-year maturity and a 2.78% coupon and (iii) USD 1 billion, with a 100-year maturity and a 3.20% coupon.

The team that advised the Republic of Peru throughout the process was led by partners Pablo Berckholtz and Alonso Miranda, and senior associate Renzo Luna.

According to the Ministry of Economy and Finance (MEF) of Peru the funds will be used to contain Covid-19 and finance part of public spending.

The notes were issued despite political uncertainty in Peru.