BCP Preps Mexican Domestic Bond

Banco de Credito del Peru, through its Panama branch, is preparing to sell bonds to be denominated in pesos, UDIs or USD in Mexico’s domestic market, according to a regulatory filing. The bonds will represent the first issuance from a MXP10bn program and pay a fixed rate or spread to TIIE benchmark. The net proceeds of the issue may be used by BCP to meet its operational requirements including funding its lending operations. Further details were not provided. Banamex and Deutsche Bank will manage the first issuance, with expected ratings of AAA on a national scale.