prnewswire logo captis executive search management consulting leadership board services

Banco De Crédito Del Perú Tender Results And Expiration Time Of Cash Tender Offers For Any And All Of The Outstanding U.S.$181,505,000 Aggregate Principal Amount Of 6.875% Fixed-To-Floating Rate Subordinated Notes Due 2026 (CUSIP Nos. 05954T AH4/P09646 AD5) And Any And All Of The Outstanding U.S.$294,700,000 Aggregate Principal Amount Of 6.125% Fixed-To-Floating Rate Subordinated Notes Due 2027 (CUSIP Nos. 05954T AJ0/ P09646 AE3)

LIMA, Peru, March 25, 2021 /PRNewswire/ — Banco de Crédito del Perú (“BCP”) today announced the tender results in connection with its offer to purchase for cash (1) any and all of the outstanding 6.875% Fixed-to-Floating Rate Subordinated Notes due 2026 issued by BCP acting through its Panamanian Branch (the “2026 Notes”), for a purchase price for the 2026 Notes equal to the applicable Purchase Price set forth in the table below (the “2026 Notes Tender Offer”); and (2) any and all of the outstanding 6.125% Fixed-to-Floating Rate Subordinated Notes due 2027 issued by BCP acting through its Panamanian Branch (the “2027 Notes” and, together with the 2026 Notes, the “Notes”), for a purchase price for the 2027 Notes equal to the applicable Purchase Price set forth in the table below (the “2027 Notes Tender Offer” and, together with the 2026 Notes Tender Offer, the “Tender Offers”). The Tender Offers were made upon the terms and subject to the conditions (including the Financing Condition (as defined in the Offer to Purchase)) set forth in the offer to purchase dated March 18, 2021 (the “Offer to Purchase”) and the related letter of transmittal (the “Letter of Transmittal”) and notice of guaranteed delivery (the “Notice of Guaranteed Delivery” and, together with the Offer to Purchase and the Letter of Transmittal, the “Offer Documents”).

As previously announced, the expiration time for the Tender Offers was 10:00 a.m., New York City time, on March 25, 2021 (such date and time, the “Expiration Time”). As of the Expiration Time, U.S.$59,982,000 in aggregate principal amount of the 2026 Notes outstanding had been validly tendered and not withdrawn pursuant to the 2026 Notes Tender Offer, and U.S.$99,470,000 in aggregate principal amount of the 2027 Notes outstanding had been validly tendered and not withdrawn pursuant to the 2027 Notes Tender Offer. Settlement of each of the Tender Offers is expected to occur on or about March 31, 2021 (the “Settlement Date”).

The table below summarizes certain payment terms for the Notes:

Notes

CUSIP and ISIN
Number(s)

Principal Amount
Outstanding

Purchase Price(1)(2)

6.875% Fixed-to-Floating Rate
Subordinated Notes due 2026

CUSIP:05954T AH4/ P09646 AD5
ISIN: US05954TAH41/ USP09646AD58

U.S.$181,505,000

U.S.$1,029.13

6.125% Fixed-to-Floating Rate
Subordinated Notes due 2027

CUSIP: 05954T AJ0/ P09646 AE3
ISIN:  US05954TAJ07/ USP09646AE32

U.S.$294,700,000

U.S.$1,058.86

_________________

(1)

Per U.S.$1,000 principal amount of applicable Notes, validly tendered and accepted for purchase, plus Accrued Interest  (as defined in the Offer to Purchase).


(2)

Subject to satisfaction of the terms and conditions described in the Offer Documents, including, without limitation, the Financing Condition.

Upon the terms and subject to the conditions of the Tender Offers set forth in the Offer Documents, all Notes validly tendered and not validly withdrawn at or prior to the Expiration Time have been accepted for purchase and will be paid in full by BCP on the Settlement Date and all Holders who validly tendered and did not validly withdraw their Notes at any time at or prior to the Expiration Time will receive the applicable Purchase Price plus Accrued Interest.

Additionally, we will pay additional amounts such that the applicable Purchase Price and Accrued Interest received by Holders after withholding tax will be equal to the amount that would have been due had there been no withholding tax, subject to the same exceptions as are included in the applicable indenture.

Payment by BCP for the Notes tendered and accepted for payment pursuant to a Notice of Guaranteed Delivery is expected to occur on the Settlement Date, subject to, and after, receipt by the tender agent of a properly completed and duly executed Letter of Transmittal and all other documents required by the Letter of Transmittal, no later than 5:00 p.m. New York City time, on March 29, 2021, the second business day after the Expiration Time, all as provided in the Offer to Purchase.

BCP’s obligation to purchase Notes in the Tender Offers is conditioned on the satisfaction or waiver of certain conditions, including, without limitation, the Financing Condition, as described in the Offer Documents.

The information and tender agent for the Tender Offers is D.F. King & Co., Inc. To contact the information and tender agent, banks and brokers may call +1 (212) 269-5550, and others may call U.S. toll-free: +1 (800) 344-0384 or email [email protected]. Additional contact information is set forth below.

By Mail, Hand or Overnight Courier:

48 Wall Street

22nd Floor

New York, NY 10005

USA

Attention: Andrew Beck

By Facsimile Transmission:

(for eligible institutions only)

+1 (212)709-3328

Attention: Andrew Beck

Confirmation by Telephone

+1 (212) 269-5552

Copies of each of the Offer Documents are available at the following web address: www.dfking.com/bcp.

Any questions or requests for assistance or for additional copies of this notice may be directed to the dealer managers at their respective telephone numbers set forth below or, if by any Holder, to such Holder’s broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Tender Offers.

The dealer managers for the Tender Offers are:

BofA Securities, Inc.
One Bryant Park
New York, New York 10019
Attention: Liability Management Group
Telephone (U.S. Toll Free): +1 (888) 292 0070
Telephone (U.S.): +1 (646) 855 8988

Credicorp Capital Sociedad Agente de Bolsa S.A.
Av. el Derby 055 Edificio Cronos,
Torre 4, 8th Floor, Santiago de
Surco, Lima 33, Peru
Collect: +51 (1) 313-2902

J.P. Morgan Securities LLC
383 Madison Avenue, 6th Floor
New York, New York 10179

U.S. Toll Free: +1 (866) 846-2874
Collect:  +1 (212) 834-7279
Attention: Liability Management Group

This notice does not constitute or form part of any offer or invitation to purchase, or any solicitation of any offer to sell, the Notes or any other securities in the United States or any other country, nor shall it or any part of it, or the fact of its release, form the basis of, or be relied on or in connection with, any contract therefor. The Tender Offers are made only by and pursuant to the terms of the Offer Documents, and the information in this notice is qualified by reference to the Offer to Purchase and the related Letter of Transmittal and Notice of Guaranteed Delivery. None of BCP, the dealer managers or the information and tender agent makes any recommendation as to whether Holders should tender their Notes pursuant to the Tender Offers.

SOURCE Banco de Crédito del Perú

rt captis executive search management consulting leadership board services

This is not a CAPTIS article. Originally, it was published here.