BCP Launches Exchange Offer

BCP Launches Exchange Offer

Peru Bonds

Banco de Credito del Peru has launched an offer to exchange any and all of its $120m outstanding in 6.95% 2021 subordinated bonds for recently issued6.875% 2026 fixed-to-floating rate bonds. Holders must also waive a provision in the original notes that keeps the Peruvian bank from accepting more than $70m worth of bonds in such an offer. In the transaction expiring October 24, accepting holders will receive an equal amount of new notes, multiplied by an exchange premium to be announced at a lat

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