August 29, 2017 / 6:30 PM / 3 months ago

Peru's state oil firm Petroperu to sell $1 billion in bonds in 2019

LIMA (Reuters) - Peru’s state-owned oil company Petroperu plans to sell $1 billion in bonds in 2019 to secure remaining financing for the expansion of its Talara refinery, the company’s president said Tuesday.

Speaking on local broadcaster RPP, Luis Garcia also reiterated that the company expects $1.3 billion in financing for the $5.4 billion project to come from a syndicated loan from Spanish state-backed insurer Cesce.

In June, Petroperu sold $2 billion in bonds to finance work on Talara, which is now about 60 percent complete.

Reporting By Marco Aquino, Writing By Mitra Taj; Editing by Chizu Nomiyama

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