August 29, 2014 10:17 PM ET

Banks

Company Overview of Banco de Credito del Peru

Company Overview

Banco de Credito del Peru provides banking services to individuals, small-sized companies, and corporate customers in Peru. The company accepts demand deposits, savings deposits, severance indemnity deposits, and time deposits. Its loan portfolio includes mortgage and other consumer loans, such as trade finance loans to importers and exporters; discounted loans; advances and overdrafts; refinanced and restructured loans; past-due loans; and direct and indirect loans. In addition, the company is involved in trade finance, financial leasing, insurance coverage, and factoring, as well as the provision of credit cards, cash management services, funds transfer services, and trust and custody serv...

Calle Centenario N°156

Urb. Las Laderas de Melgarejo

Santa Patricia

La Molina

Lima,  12

Peru

Founded in 1889

Phone:

51 1 313 2000

Fax:

51 1 313 2238

Key Executives for Banco de Credito del Peru

Banco de Credito del Peru does not have any Key Executives recorded.

Banco de Credito del Peru Key Developments

Banco de Credito del Peru Announces Final Exchange Results Exchange Offer

Banco de Credito del Peru announced the final results for its offer to exchange any and all of its outstanding $365,435,000 aggregate principal amount 4.75% senior notes due 2016 (existing notes) for newly issued 2.75% senior notes due 2018 (new notes) (exchange offer). The terms and conditions of the exchange offer are set forth in an exchange offer memorandum dated June 4, 2014 and the related letter of transmittal. The exchange offer expired at midnight, New York City time, on July 1, 2014 (expiration date). As of the Expiration Date, the Company received as validly tendered approximately $210,649,000 in aggregate principal amount of existing notes. All existing notes validly tendered at or prior to the expiration date will be accepted in full by the company. Subject to the terms and conditions of the exchange offer, the company expects to settle the exchange offer for existing notes validly tendered on or prior to the expiration date on July 9, 2014 (settlement date). On the settlement date, eligible holders of such existing notes will receive the total exchange price. The company expects to issue approximately $225,339,000 in aggregate principal amount of new notes in connection with the exchange offer. Cash in lieu of any fractional portion rounded down of a new note will be paid on the settlement date based on the total exchange price. All eligible holders whose existing notes are validly tendered and accepted for exchange will also receive a cash payment equal to the accrued and unpaid interest on their existing notes accepted for exchange from the last applicable interest payment date up to, but excluding, the settlement date. The new notes will be the company's direct, unconditional and unsecured general obligations and will, other than as set forth below, at all times rank pari passu in right of payment with all of the company's other unsecured obligations other than obligations that are, by their terms, expressly subordinated in right of payment to the new notes. The new notes will be effectively subordinated to all of the company's secured indebtedness with respect to the value of the company's assets securing that indebtedness, and certain direct, unconditional and unsecured general obligations that in case of the company's insolvency are granted preferential treatment pursuant to peruvian law. The new notes will be structurally subordinated to the existing and future obligations of the company's subsidiaries. The new notes will bear interest of 2.75% per year. Interest will be payable on January 9 and July 9 of each year, commencing on January 9, 2015. The new notes will mature on January 9, 2018. The exchange offer has been solicited only from holders of existing notes who properly completed, executed and delivered to the information and exchange agent an eligibility letter, whereby such holder has represented that it is one of the following: if in the United States, a qualified institutional buyer, or QIB, as that term is defined in Rule 144A under the Securities Act of 1933, as amended and under applicable state securities laws and that it is not an affiliate of the company, as such term is defined in Rule 405 under the Securities Act, or if outside the United States, a person other than a ‘U.S. person’, as that term is defined in Rule 902 under the Securities Act, or acquiring for the account of a U.S. person (other than as a distributor), and is acquiring new notes in an offshore transaction in accordance with Rule 903 of Regulation S under the Securities Act (eligible holders).

Banco de Credito del Peru Announces Exchange Offer for All of its Outstanding USD 365,435,000 4.75% Senior Notes Due 2016

Banco de Credito del Peru announced that it has commenced an offer to exchange any and all of its outstanding USD 365,435,000 aggregate principal amount 4.75% Senior Notes due 2016 (CUSIP Nos. 05954TAG6 (Rule 144A) and P09645AG0 (Reg. S) and ISIN Nos. US05954TAG67 (Rule 144A) and USP09645AG07 (Reg. S)) for newly issued 2.75% Senior Notes due 2018. The purpose of the Exchange Offer is to manage the maturity profile of the company's existing debt by extending the maturity of its outstanding debt from 2016 until 2018, the maturity of the New Notes. The Exchange Offer will expire at midnight, New York City time, on July 1, 2014, unless extended. Eligible Holders who validly tender and do not validly withdraw Existing Notes for exchange by 5:00 PM, New York City time, on or prior to June 17, 2014, unless extended and whose tenders are accepted for exchange will receive the Total Exchange Price. Eligible Holders who validly tender Existing Notes for exchange after the Early Exchange Date, but on or prior to the Expiration Date, and do not validly withdraw and whose tenders are accepted for exchange will receive the Exchange Price. Existing Notes tendered in the Exchange Offer may be withdrawn at any time prior to 5:00 PM, New York City time, on June 17, 2014, unless extended by the company. Eligible Holders may withdraw tendered Existing Notes at any time prior to the Withdrawal Deadline, but Eligible Holders may not withdraw their tendered Existing Notes on or after the Withdrawal Deadline except as required by applicable law. Eligible Holders that tender their Existing Notes at or prior to the Early Exchange Date and do not validly withdraw and whose tenders are accepted for exchange will receive, in exchange for each USD 1,000 of principal amount of Existing Notes being exchanged, a principal amount of New Notes equal to USD 1,070. The Total Exchange Price includes an early participation premium, payable in New Notes, of USD 30 per USD 1,000 principal amount of Existing Notes. The Total Exchange Price is calculated to approximate the make-whole redemption amount the Eligible Holder would receive in accordance with the terms of the Existing Notes if the Existing Notes were redeemed prior to maturity. Eligible Holders that tender their Existing Notes after the Early Exchange Date but on or prior to the Expiration Date and do not validly withdraw and whose tenders are accepted for exchange will receive the Total Exchange Price less the Early Participation Premium. Cash in lieu of any fractional portion less than USD 1,000 principal amount of a new note rounded down will be paid on the settlement date based on the Total Exchange Price or the Exchange Price, as the case may be. All Eligible Holders whose Existing Notes are validly tendered and not validly withdrawn and accepted for exchange will also receive a cash payment equal to the accrued and unpaid interest on their Existing Notes accepted for exchange from the last applicable interest payment date up to, but excluding, the settlement date. The settlement date will be the fifth business day following the Expiration Date (July 1, 2014) or as soon as practicable thereafter. On the Settlement Date the company will, subject to the terms and conditions of the Exchange Offer, settle the exchange of all Existing Notes that have been validly tendered and not validly withdrawn prior to the Expiration Date. The company will not be obligated to deliver New Notes unless the Exchange Offer is consummated.

Banco de Credito del Peru Reports Consolidated Earnings Results for the First Quarter of 2014

Banco de Crédito del Perú reported consolidated earnings results for the first quarter of 2014. For the quarter, the company reported net financial income of PEN 1,290,997,000 against PEN 1,064,473,000 a year ago. Operating income was PEN 667,621,000 against PEN 572,510,000 a year ago. Net income was PEN 478,118,000 or PEN 0.127 incomes per share against PEN 366,880,000 or PEN 0.127 incomes per share a year ago. Return on average equity was 22.8% against 20.9% a year ago.

Similar Private Companies By Industry

Company Name Region
Icbc Peru Bank S.A. Americas
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Banco GNB Peru S.A. Americas
Lima Sudameris Holding S.A. Americas

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