By Cristal Cody
Chicago, March 23 – Banco de Credito del Peru sold $500 million of 3¼% subordinated notes due Sept. 30, 2026 (Baa3/BBB) on Tuesday, according to a market source.
The notes priced with a spread of Treasuries plus 245 basis points. They were talked in the Treasuries plus 280 bps area.
BofA, Credicorp and JPMorgan are the bookrunners.
The issuance is part of the lender’s offer to purchase its outstanding notes due 2026 and 2027, according to a rating agency.
The bank is based in Lima, Peru.
| Issuer: | Banco de Credito del Peru
|
| Issue: | Subordinated notes
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| Amount: | $500 million
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| Maturity: | Sept. 30, 2026
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| Bookrunners: | BofA, Credicorp and JPMorgan
|
| Coupon: | 3¼%
|
| Spread: | Treasuries plus 245 bps
|
| Trade date: | March 23
|
| Ratings: | Moody’s: Baa3
|
| S&P: BBB
|
| Price talk: | Treasuries plus 280 bps area
|
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