BCP taps tier twos for $170m
Peru’s largest bank, Banco de Crédito del Perú (BCP), tapped its tier two bonds due 2027 on Friday, selling a further $170m of the 6.125% paper at 108.479 to yield 4.95%. Citi and JP Morgan managed the Ba1/BBB rated deal, which priced at the tight end of 4.95%-5% guidance and will be used for general corporate purposes.