Peruvian bank duo turn to tier two for funding

Peru, bank, queue, Lima, 575, LAtAm
By Oliver West
02 Jul 2020

Banco Internacional del Perú (Interbank) sold a $300m subordinated bond on Tuesday just two business days after its largest domestic rival raised $850m in the same format.

Leads Bank of America and JP Morgan on Tuesday morning set initial price thoughts at 4.375% area for Baa1/BBB/BBB rated Interbank’s proposed Baa3/BB+ rated subordinated 10-year non-call five tier two bond.

Banco de Crédito de Perú (BCP), the largest lender in Peru, had on June 26 sold ...

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