Peru’s BCP Eyes 275bp Area

Banco de Credito del Peru is talking a yield of UST plus 275bp, plus/minus 5bp, for a new 10-year bond, according to investors following the deal. The 2020 is expected to weigh in at $500m or more, though no official size has been communicated. Moody’s expects up to $1bn from the deal, issued from BCP’s Panamanian branch. With books heard topping $2bn as they were set to close Wednesday afternoon, the transaction is expected to price today. Bank of America Merrill Lynch and Deutsche Bank are managing the Baa2/BBB/BBB minus transaction.