BCP Closes in on Exchange Target

BCP Closes in on Exchange Target

Peru Bonds

Holders representing $317.5m of Banco de Credito del Peru’s (BCP) 4.75% 2016 bonds had accepted an exchange offer as of the early deadline, the bank says, putting it well on its way to meet the $350m target. In an offer expiring April 19, the lender is offering new 4.25% 2023 senior notes in exchange for the old bonds, at a rate of $1,096.25 in new bonds per $1,000.00 of the 2016s tendered before the April 5 early deadline, and $1,078.75 per $1,000.00 after. Holders whose existing 2016 bonds are

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