Peru’s Banco Interamericano de Finanzas, or BanBif, said it sold PEN140 million ($37 million) worth of short-term notes in the local market on Tuesday in a deal that was roughly 2.1 times oversubscribed.
BanBif priced the 2025 notes at 94.7587 to yield a fixed rate of 5.53125%, it said in a securities filing. The offering drew demand for PEN287 million.
Banco de Crédito del Perú was the structuring agent, while Credicorp Capital acted as placement agent.
BanBif plans to use the proceeds from to fund its operations, according to a prospectus filed with the Lima Stock Exchange.
The short-term notes are the first ones to be sold under the lender’s $200 million bond program, which was approved by its board in February last year.