Peru’s Banco de Credito May Sell 10-Year Dollar Bonds in Overseas Markets

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By Sapna Maheshwari and Veronica Navarro Espinosa
Bloomberg.com

Banco de Credito del Peru, the country’s largest bank, may sell benchmark 10-year dollar- denominated notes in the country’s first corporate international bond issue in four months.

BCP, a unit of Credicorp Ltd., hired Bank of America Corp. and Deutsche Bank AG to arrange meetings with bond investors, according to a person familiar with the transaction who declined to be identified because terms aren’t set. A benchmark sale is typically at least $500 million.

Banco Internacional del Peru sold $200 million of 60-year bonds, callable after 10 years, on April 16. The unit of financial holding group Intergroup Financial Services Corp. was the last Peruvian company to issue bonds abroad.

Peruvian issuers have raised $670 million in international markets this year, compared with $2.1 billion a year earlier, according to data compiled by Bloomberg.

BCP last sold bonds abroad in November, when the Lima-based lender issued $107 million worth of Chilean bonds that mature in five years. The lender confirmed its plans to sell bonds in dollars in a statement to the market regulator.

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