BCP Plans 60-Year Hybrid

BCP Plans 60-Year Hybrid

Peru Structured Finance

Banco de Credito del Peru (BCP) is preparing to sell a hybrid bond in the cross-border market, expected to be about $225m in size. The 60-year junior subordinated security will pay a fixed rate through the first 10 years, and switch to a Libor-based interest rate thereafter. A roadshow is set to start Monday in Switzerland and Singapore, and hit London, Boston and Hong Kong before finishing Thursday in New York and Miami. Bank of America-Merrill Lynch and JPMorgan are managing the sale, rated BB

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