Interbank Takes $200m Loan to Retail

Peru’s Interbank, which is seeking to raise $200m in a recently restructured two-part facility, is launching to retail today with a bank meeting in New York. The facility, being led by Standard Chartered, includes a $100m trade facility at 80bp, 85bp and 95bp over Libor in years one, two and three, respectively, and a $100m working capital facility at 100bp, 110bp and 120bp over. The deal competes with Scotia Peru’s $200m 5-year amortizer via Citi, which bankers away from the process say pays 120bp over Libor. Both facilities are heard moving slowly with no clear signs of participation yet. That is because of challenging market conditions for lenders, claim bankers on the deal. “Interbank is gaining traction now,” says an executive close to the process. He adds Interbank may secure its first two MLAs this week.