Banco de Credito Prices $500m FRN

Banco de Credito Prices $500m FRN

Peru

Banco de Credito del Peru has priced a dual tranche $500m MT100 issue amid market volatility. The bonds are split into a $350m series A and a $150m series B. The series A have a 10-year final, 7.4 year average life, and pay Libor plus 28bp. The series B have a 7-year final maturity, 5.2-year average life and pay Libor plus 25bp. Ambac wrapped the issue to give it a AAA rating. S&P assigned an underlying rating of A minus to BCP and Moody's gave it a Baa3 rating. Standard Chartered was sole bookr

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