By Cristal Cody
Chicago, Jan. 16 – Banco de Credito del Peru sold a two-part offering that had both an international component and a local-currency part (BBB/BBB), according to a market source, a regulatory filing and a press release.
The bank sold $500 million of 5.85% notes with a five-year term.
The bonds were talked in the very low 200 basis points area and ultimately priced at Treasuries plus 190 bps.
The deal also included S/. 1.15 billion of 7.85% notes due 2029.
BofA, JPMorgan and Santander were the bookrunners for the Rule 144A and Regulation S deal.
Proceeds will be used for general corporate purposes, including to extend the debt maturity profile of the issuer through repayment of 4.65% senior notes due 2024.
Based in Lima, the issuer is the largest commercial bank in Peru.
| Issuer: | Banco de Credito del Peru
|
| Issue: | Notes
|
| Bookrunners: | BofA, JPMorgan and Santander
|
| Counsel to issuer: | Davis Polk
|
| Trade date: | Jan. 4
|
| Settlement date:
|
| Ratings: | S&P: BBB
|
| Fitch: BBB
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Dollar notes
|
| Amount: | $500 million
|
| Maturity: | Jan. 11, 2029
|
| Coupon: | 5.85%
|
| Spread: | Treasuries plus 190 bps
|
| Price talk: | Treasuries plus very low 200s
|
|
|
| Sol notes
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| Amount: | S/. 1.15 billion
|
| Maturity: | 2029
|
| Coupon: | 7.85%
|
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