Intercorp Financial Services Inc. said it will issue up to $300 million in bonds on Oct. 19 in order to finance its pending acquisition of Seguros Sura SA and Hipotecaria Sura Empresa Administradora Hipotecaria SA.

The issuance was approved by shareholders in September, although the company noted at the time that it would depend on regulatory approval for the acquisition, which it obtained earlier in October.

The 10-year senior, unsecured notes will carry an interest rate of 4.125%, payable semi-annually in April and October of each year. The bonds will mature in October 2027.

Intercorp announced its deal to acquire the two Sura Asset Management SA units in June, saying that the purchase will help strengthen the company's position in Peru's annuities and individual life insurance markets.