By Cristal Cody
Chicago, March 22 – Banco BBVA Peru priced $300 million of tier 2 subordinated notes due 2034 in connection with a tender offer, according to a market source and documents filed.
The notes start with a 6.2% rate. The rate resets on June 7, 2029 to Treasuries plus 200.2 bps
Initial talk was in the 6 5/8% area and the notes priced at par.
BBVA Securities Inc., BofA Securities, Inc. and Goldman Sachs & Co. LLC were the bookrunners.
BBVA is a full-service financial institution with headquarters in Lima, Peru.
| Issuer: | Banco BBVA Peru
|
| Amount: | $300 million
|
| Issue: | Tier 2 subordinated notes
|
| Maturity: | June 7, 2034
|
| Bookrunners: | BBVA Securities Inc., BofA Securities, Inc. and Goldman Sachs & Co. LLC
|
| Counsel to bookrunners: | Simpson Thacher
|
| Coupon: | 6.2% initial rate; resets June 7, 2029 to Treasuries plus 200.2 bps
|
| Price: | Par
|
| Yield: | 6.2%
|
| Call features: | 5.25 years
|
| Trade date: | March 4
|
| Settlement date: | March 7
|
| Ratings: | Moody’s:
|
| S&P:
|
| Fitch:
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 6 5/8% area
|
| Marketing: | Investor meetings
|
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