This page updated regularly deals with securitization developments in Peru. If you have any news or development to contribute to this, please write to me.
|
Securitization regulations in Peru Click here for securitization laws in Peru in Spanish |
19th April, 2000
This page was revised and enhanced.
Late breaking additions:14th Feb., 2000
Financial innovation and securitization in Peru- an article by Miguel Denegri:
http://www.peruonline.net/IN/ECONOMIA/in020304j.htm
State of the Market:
There have been some securitisation transactions in Peru. In 1997, two mining companies, Minera Yanacocha S.A. and Southern Peru Copper Corp. issued secured export notes backed by gold and copper, respectively. The commodity backing was to nullify the currency risks inherent with the currencies in the region.
According to a report by Fitch IBCA, the first domestic asset-backed deal was launched in July 1998 by Ferreyos S.A., the sole distributor of Caterpillar products in Peru. The transaction volume was USD 21.7 millions.
In Dec 1998, there was an issue of telephone receivables-backed securities by Telefonica del Peru, valuing USD 150 million.