We advised BCP on the takedowns under its MTN program

Davis Polk advised Banco de Crédito del Perú (BCP) in connection with offerings of $500 million aggregate principal amount of 5.850% fixed-rate notes due 2029 and S/1.15 billion 7.850% notes due 2029 under its existing medium-term notes program. The notes were issued pursuant to Rule 144A / Regulation S under the Securities Act.

The proceeds from the offerings will be used by BCP for general corporate purposes, including, among other things, to extend its debt maturity profile through the repayment of its existing shorter-term indebtedness (which may include its outstanding soles-denominated 4.650% senior notes due 2024).

Based in Lima, Peru, BCP is the largest commercial bank in Peru, providing a full range of corporate, retail and investment banking products to clients through a nationwide distribution network.

The Davis Polk corporate team included Manuel Garciadiaz, Drew Glover and Agustin N. Lopez Roualdes. The tax team included Michael Farber, Liang Zhang and Michael Mirabella. Members of the Davis Polk team are based in the São Paulo, New York and Northern California offices.