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Mibanco to issue 10-year subordinated bonds worth up to 50M soles

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Mibanco to issue 10-year subordinated bonds worth up to 50M soles

Peru'sMibanco Banco de la Microempresa SAplans to issue 10-year subordinated bonds worth up to 50 million Peruvian solesin the local market on May 13, the bank said in a filing with Peruvian securitiesregulator SMV.

The bonds,which will be auctioned May 12, will have a nominal value of 1,000 soles each. Thetotal amount of the issuance could also be expanded up to 100 million soles, thebank said.

The issuanceis in the framework of the bank's second subordinated bonds program for up to 200million soles.

structured the issuance and is the placing agent, the bank said.

As of May 10, US$1 was worth 3.34Peruvian soles.