BCP Quietly Places MT100

Banco de Credito del Peru (BCP) has privately placed $150m in 2015 MT100 bonds, amid a flurry of similar trades. Demand reached about $225m, according to a banker managing the sale. The issuer and the banks on the deal declined to disclose terms or buyers of the notes. Proceeds from the A-/Baa2 sale are for general corporate purposes. Standard Chartered and Wachovia managed the sale. BCP follows Interbank into this market and BBVA Continental is expected to price a similar transaction for $200m soon via Sumitomo Mitsui. Interbank is heard to have sold $200m in MT100 FRNs to Credit Suisse. It included a 7-year tranche and was heard to have an all-in cost to the issuer equivalent to roughly 7.5%.