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Banco de Crédito del Perú gets approval for early redemption of 9.75% bonds

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Banco de Crédito del Perú gets approval for early redemption of 9.75% bonds

Banco de Crédito del Perú has received approval from Peru's banking regulator for the early redemption of US$250 million of bonds maturing in 2069, the company said in a filing.

The Lima-based institution can redeem the noncumulative fixed-floating rate step-up junior subordinated notes starting from Nov. 6.

The bonds, which carry a coupon rate of 9.75%, were issued in November 2009.

Earlier in September, the bank placed $700 million worth of unsecured senior bonds at an interest rate of 2.70% amid plans to repurchase higher-yielding notes.