Credicorp REIT to sell local bonds to fund acquisition

Credicorp REIT to sell local bonds to fund acquisition

Bonds Debt Capital Markets Corporate & Sovereign Strategy Peru

Fibra Credicorp, a real estate investment trust (REIT) managed by the Peruvian financial services firm Credicorp, said it is offering $28 million worth of local notes to fund an acquisition. The Lima-based REIT will use the proceeds to buy an office building for $25 million plus tax in the seaside district of Magdalena del Mar in the capital city. Fibra Credicorp expects to post returns around 11% from the building, where the current tenants include a government agency and a multinational corpor

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