BCP Adds Senior Debt

BCP Adds Senior Debt

Peru Bonds

Banco de Credito del Peru (BCP) has priced a $350m 2023 senior unsecured bond, after getting a book heard reaching more than $1.2bn. The Baa2/BBB+ borrower priced the bond at 99.196 with a 4.25% coupon to yield 4.35%, or UST+243.2bp, tight to 4.50%-area initial price thoughts. Opinions differed as to where the bonds priced versus the lender’s existing bonds, with bankers on the deal seeing the deal coming inside the yield curve, based on a G-spread of 246bp for BCP’s senior 2020 bond. A banker a

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