Credicorp priced inagural public debt offering of USD 500 million

Rhea-AI Summary

Credicorp Ltd. (NYSE: BAP) has priced its public offering of USD 500 million in 2.750% notes due 2025. The notes offer an effective yield of 2.867%, reflecting a spread of 250 basis points above the benchmark US Treasury yield. This strategic move aims to enhance the company's liquidity and financial flexibility, allowing for potential investments and operational improvements.

Positive

• Successful pricing of USD 500 million notes indicating strong investor interest.
• 2.750% yield offers competitive financing for upcoming projects.

Negative

• The spread of 250 basis points indicates higher perceived risk compared to Treasuries.

News Market Reaction – BAP

-3.95%

-3.95% Session move

In the trading session that priced this news, BAP declined 3.95%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Lima, June 11, 2020 (GLOBE NEWSWIRE) -- Credicorp Ltd. (NYSE: BAP) announced the pricing of its underwritten public offering of USD 500 million principal amount of 2.750% notes due 2025. The offering price resulted in a yield of 2.867% and an implied spread of 250bps over the reference US Treasury yield.

FAQ

What is the significance of Credicorp's recent bond offering?

Credicorp's USD 500 million bond offering enhances its liquidity, providing capital for future investments.

When are Credicorp's new notes due?

The new notes issued by Credicorp are due in 2025.

What is the yield on Credicorp's recent bond offering?

The yield on the recent bond offering is 2.867%.

How much has Credicorp raised through its bond issuance?

Credicorp has raised USD 500 million through its bond issuance.