Peru’s BCP Targets $150m in DPR Bonds

Peru’s BCP Targets $150m in DPR Bonds

Structured Finance

Banco de Credito del Peru is looking to place $150m in notes backed by diversified payment rights (DPR), say people close to the deal. The Series 2008-B bonds, which have received a preliminary A minus rating from Fitch, are being placed by Sumitomo Mitsui. They are a follow up to the bank’s 2008-A series, of which another $150m were issued in July. The bonds will have a floating interest rate and will bring BCP’s total outstanding DPR stock to $1.1bn, according to Fitch. BCP executives declined

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