Interbank starts tender offer for subordinated notes due 2029

Chicago, Jan. 4 – Banco Internacional del Peru SAA (Interbank) started an abbreviated tender offer for any and all of its 6 5/8% fixed-to-floating rate subordinated notes due 2029 (Cusips: 05968DAA8, P13435AA3) late in the evening on Wednesday, according to a press release.

The par offer consideration relates to the $300 million of outstanding notes. Interest will be paid to, but not including, the settlement date.

The offer ends at 8 a.m. ET on Jan. 11.

There are guaranteed delivery procedures, with notes tendered through that method due by 5 p.m. ET on Jan. 16.

Settlement is planned for Jan. 17.

Concurrently with the tender offer, Interbank is offering new subordinated notes. The tender offer is conditioned on the success of the new offering.

Tendering noteholders who wish to subscribe for the new notes should contact the dealer managers for a unique identifier code to potentially receive priority in allocation of the new notes.

The bank may use the new notes to redeem all or a portion of the subordinated notes in the tender offer after the tender offer ends.

BofA Securities, Inc. (800 292-0070, 646 855-8988) and J.P. Morgan Securities LLC (866 846-2874, 212 834-7279) are the dealer managers for the tender offer.

D.F. King & Co., Inc. is the information and tender agent for the offer (866 846-2874, 212 834-7279, www.dfking.com/interbank).

Interbank is a provider of financial products and banking services for retail customers and commercial clients in Peru.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.