IFH Adds $100m to 2019

IFH Peru has added $100m to its 8.625% 2019 bonds in a reopening. The holdco for Interbank, Supermercados Peruanos and other businesses, priced the B+/Ba3 notes at 106.895 to yield 7.250%, in line with 7.250% area guidance. The bonds had not been trading frequently, given the small $150m outstanding size, but bankers on the deal had spotted them around 108 at announcement last week. The book was about 60% Chilean, according to a banker on the deal, with the remainder coming from Peruvian and international investors. Proceeds from the retap will go to finance expansion at IFH’s subsidiaries. Barclays and IM Trust, which led the original sale, managed the reopening. The issue size now stands at $250m.