Scotia Peru Lands Tier 2

Scotia Peru Lands Tier 2

Peru Bonds Structured Finance

In its international DCM debut, Scotiabank Peru has raised $400m in new 2027 NC10 Tier 2 bonds, while getting $2.3bn in demand from at least 170 accounts. The Bank of Nova Scotia subsidiary priced at par with a 4.50% coupon, to yield tight to 4.625%-area guidance, which followed 5%-area price thoughts. Investors reported pricing inside of Banco de Credito del Peru’s (Baa3/BBB) $350m 2027 Tier 2 bonds trading to yield 4.70%-4.80% and seen as a direct comp despite differences in rating. “Bottom li

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