InRetail tightens price

InRetail tightens price

Bonds

Peruvian retailer InRetail Shopping Malls sold a seven non-call four $350m bond on Tuesday yielding 6.625%, down from initial price thoughts of low-7%. Strong demand prompted bookrunners Citi and Credit Suisse to increase the size of the bond by $50m, sources said. The deal carries a 6.5% coupon and was priced at 99.309. “I’ve heard that the books were enormous … There is nothing out there that pays more than 6% or even on the high 5%, that’s why the deal went well,” said a UK-based investor. An

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