BCP issues US$500 million in bonds at 3.52%

BCP has gone to the market and issued US$500 million in senior preferred bonds, with a five-year maturity and an early repayment option of four years, Bloomberg reported on Monday, citing sources familiar with the process.

The indicative interest at the start of the operation is around 3.52%, and the securities have a variable rate.

According to Bloomberg, the market operators of the issue are Bank of America, BNP Paribas, JP Morgan (B&D), Millennium BCP and UniCredit.

The issuance of the bonds, maturing on October 21, 2029, will only be available to institutional investors.

Last week, BCP announced it was bringing forward the repayment of a $350 million senior preferred debt loan due in October 2025. The three-year loan had been issued in October 2022.