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The International Finance Corporation (IFC) is to launch its first bond issue denominated in Peruvian currency. The issue, of up to US$500mn, will be on a fixed rate with the IFC currently studying the appetite of potential buyers that are likely to include pension fund mangers, mutual funds and insurance companies.

Initially, US$180mn in bonds will be issued in the local sol currency.

The IFC expects the bond issue to be a vote of confidence in the Peruvian financial system.

The IFC is the private sector arm of the World Bank. It promotes sustainable private sector investment in developing countries.