BBVA Continental Kicks Off DPRs

BBVA Continental Kicks Off DPRs

Structured Finance

Peru’s BBVA Continental has issued a $250m 2016 bond, its first diversified payment rights (DPR) securitization offering from a new program. The notes rated A by Fitch were placed privately. Finance officials at BBVA and placement agent Sumitomo Mitsui declined to disclose the identity of the buyer or the interest rate on the bonds. DPR securitizations have become an attractive option for LatAm banks to raise capital amid the market volatility of the past 18 months. Typically the bonds, also kno

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