The Ministry of Economy and Finance (MEF) approved the execution of a debt management operation and issuance of sovereign bonds for up to US $ 287.3 million, to fulfill the obligations related to the guarantee of the State in favor of Petroperú.
For this purpose, Ministerial Resolution No. 447-2025-EF/52, signed by the head of the sector, Raúl Pérez Reyes.
Specifically, said internal bond issue was determined to implement the debt management operation, from payment obligations derived from the honor of the guarantee granted by the National Government, Approved by Emergency Decree No. 023-2022, which established economic and financial measures aimed at preventing fuel shortage at the national level.
This resolution, published in the legal norms, is protected by Law No. 32187, Law on Public Sector Bread for fiscal year 2025, and that empowers the national government to develop this type of financial operation.
Issue will be under modality of refinancing
The resolution provides that the internal bond emission will be under the refinancing modality, for the aforementioned amount, plus the interests that are accrued until the placement of the aforementioned bonds.
For the purposes of said issuance, it is established that the placement modality is through private offer to the Bank of the Nation, to replace the market creators program.
It also has as characteristics of the sovereign bond that its value will be the one that has on August 12, 2034 in soles, plus the interests that are accrued until the placement of these instruments.
Bond conditions
Its nominal value will be US $ 287 (by bonus) and the resolution indicates that the amount corresponding to the fractions will be canceled on the placement date of the sovereign bonus with expiration at August 12 of the year mentioned above, and which will be the date of redemption of the same, with a coupon rate of 5.40% and with a periodicity of payment of semiannual interests.
The placement dates will be, the first, on the 26th of this month, for the letters of credit with expiration from August 28, 2025 until September 18, 2025; and the second, On October 1 of this year, for the letters of credit with maturity as of September 25, 2025, being the registration agent of issuance and payment Cavali SA
The amortization service, interests and other expenses caused by the issuance of bonds in accordance with the provisions of this resolution, They will be attended by the MEF charged to the budgetary resources assigned to the payment of the public debt service.
Likewise, the MRI authorizes the general director of the Public Treasury of the MEF to sign the “Debt Administration Agreement under the modality of refinancing between that Ministry and the Bank of the Nation”, as well as the documents required for its implementation.
