Banco de Credito del Peru plans $160 million nuevo sol-denominated 15-year issue

By Aaron Hochman-Zimmerman

New York, Sept. 27 - Banco de Credito del Peru announced its intention to sell a $160 million nuevo sol-denominated 15-year subordinated bond (Baa3/BB+/BB+), according to a market source.

Morgan Stanley has been mandated as the bookrunner for the Rule 144A and Regulation S deal.

A roadshow will be held in London on Oct. 1, in New York on Oct. 2, Los Angeles on Oct. 3 and Boston on Oct. 4. Pricing is expected following the roadshow.

The bonds feature 10 years of call protection.

Interest rates are fixed for the first 10 years, then adjust semi-annually to 150 basis points over the yield to maturity of Peru's sovereign due 2037.

Proceeds from the sale will be used to increase regulatory capital and for general corporate purposes.

Banco de Credito del Peru is a Lima, Peru-based commercial and investment bank.

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