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Banco BBVA Peru launches four-day tender offer for 2029 notes
By Mary-Katherine Stinson
Lexington, Ky., March 4 – Banco BBVA Peru launched an abbreviated cash tender offer for its outstanding $300 million 5¼% subordinated notes due 2029 (Cusips: 05537GAD7, P16236AG9), according to a notice.
The notes will be purchased at par plus accrued interest.
The offer expires at 5 p.m. ET on March 8, which is also the withdrawal deadline.
There are guaranteed delivery procedures. Notes delivered by that method are due by 5 p.m. ET on March 12.
Settlement is expected to occur on March 13.
The notice states that BBVA expects to accept all the tendered notes for purchase.
Concurrently with the offer, BBVA is offering subordinated notes via an SEC-exempt transaction.
The tender offer is conditioned upon the satisfaction or waiver of certain conditions, including the consummation of the bond offering in an amount equal to the outstanding subordinated notes.
BBVA Securities Inc. (Attn: Liability Management, 212 728-2303, 212 728-2303), BofA Securities, Inc. (Attn: Liability Management, 800 292-0070, 646 855-8988) and Goldman Sachs & Co. LLC (Attn: Liability Management Group, 800 828-3182, 212 902-1905) are the dealer managers for the offer.
D.F. King & Co. Inc. (800 488-8035, 212 269-5550, www.dfking.com/bbva) is the information agent and tender agent for the tender offer.
BBVA is a full-service financial institution with headquarters in Lima, Peru.
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