BCP Wraps up DPR

Banco de Credito del Peru has completed the sale of $465m in bonds backed by diversified payment rights (DPR), it says, getting a larger size and distribution than is typical of the asset class in LatAm. A $150m 2017 with a 3-year average life portion pays a spread to Libor, and a $315m 2022 tranche pays a fixed rate. A manager on the deal declines to provide additional comment on the pricing. Standard Chartered and Wells Fargo are managing the sale, rated A/A.