The Peruvian government is selling at least $1 billion of 30-year bonds, denominated in Peruvian Nuevo sols, MarketWatch reports.

The size of the deal, being managed by Citigroup, may be increased depending on demand.

The government plans to use the proceeds to pay $1.75 billion of debt owed to the Paris Club group of creditors ahead of schedule. Citigroup has created a global depositary note which will be denominated in dollars and tradable through DTC, Euroclear and Clearstream for investors to trade the bonds internationally.

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