PERU

On November 23, the Executive issued Supreme Decree No. 349 adopting the external and/or internal issuance of bonds for USD 4 billion and issued provisions for the implementation of the decree. In other news, through Resolution No. 324 it approved the Operating Regulations for Stock Funds. 

The Ministry of Economy and Finance authorized the issuance of sovereign bonds up to the equivalent of USD 4 billion, in accordance with the provisions of Article 3 of Emergency Decree No. 051-2020, which dictates extraordinary measures to finance the increase in expenditure arising from the COVID-19 health emergency during 2020.

In this line, through Resolution No. 325, provisions were issued for the implementation of the bond issue. The placement mechanism will be carried out through Bookbuilding and Citigroup Global Markets Inc. will be among its financial advisors.

In other news, the Operating Regulations of Stock Funds were approved, establishing provisions related to the implementation and operation of Stock Funds, so that they are designed and structured jointly with the International Bank for Reconstruction and Development within the framework of the “Issuer-Driven ETF” Program developed for Peru.