Interbank Preps Bond Issue

Peru’s interbank is preparing a new 10-year bond at up to $400m, hoping to capitalize on bullishness that greeted rival Banco de Credito del Peru earlier this month. The bank will start in London Monday, and visit Boston before finishing in Los Angeles and New York Wednesday. Bank of America Merrill Lynch (BAML) and JPMorgan have joint books. The deal is rated Baa3. BBB/BBB minus BCP priced an $800m 2020 bond 2 weeks ago through BAML and Deutsche Bank. It came at 99.763 with a 5.375% coupon to yield 5.406%, or UST plus 265bp, the tight end of 275bp-area guidance.