Scotiabank Trims DPR for Lower Spread

Scotiabank Trims DPR for Lower Spread

Structured Finance

Peru’s Scotiabank has raised $175m in diversified payment rights (DPR) bonds in its first visit to the capital markets using the future flows structure, say executives familiar with the trade. The bank had launched at $200m, but opted to reduce size to secure attractive pricing, say bankers on it. Rating agencies had assigned their respective A/A minus scores for an up to $250m issuance. A $50m 7-year final fixed rate tranche came at 5.25% while a $125m floating rate piece with the same tenor ca

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