LIMA,
Peru, June 26, 2024 /PRNewswire/ -- 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
and Accepted in the Exchange Offers
|
Aggregate
Principal
Amount Tendered and
Accepted in the Cash
Tender Offers
|
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: contact@gbsc-usa.com
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: santransaccionperu@santander.us
The Issuer for the Offers is:
Ministerio de Economía y Finanzas del Perú
Jr. Junín No. 319
Lima, Perú
Email: subastas@mef.gob.pe
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.
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SOURCE The Republic of Peru