IFH Peru Readies Retap

IFH Peru, the holdco for Interbank, Supermercados Peruanos and other businesses, is preparing to add $100m to its 8.625% of 2019 bonds sold last year. It is targeting the Chilean and Peruvian institutional buyside and planned to meet investors in these countries before Tuesday’s expected pricing, according to a banker on the deal. The B+/Ba3 bonds were originally sold in October 2009, at an 8.750% yield, in a transaction upsized to $150m from $100m. Given the small size, the outstanding bonds are not frequently traded, though a banker on the deal spots them at 108.5. Proceeds from the retap will go to finance expansion at IFH’s subsidiaries. Barclays and IM Trust, which led the original sale, are managing the deal.