Debt issue roundup: BCP, Mibanco issues on Nov 17, BIF placement results

Peru's biggest bank, Banco de Crédito del Perú ( BCP), will on November 17 place up to 70mn soles (US$24.3mn) in bonds on the local market, which could be raised to 100mn soles if demand is strong. The C-series, 5-year bonds will have a nominal value of 1,000 soles each, and will be assigned a fixed-rate annual coupon, the bank told the Lima stock exchange in a filing The issue is part of a larger 1.2bn-sol program. Local ratings agencies Equilibrium and Apoyo & Asociados both rate the program at AAA(pe). BCP had 32.2% of loans and 33.8% of deposits in the Peru's commercial banking system at end-September, according to financial sector regulator SBS. *** Peru's largest microfinance provider Mibanco will on the same date place up to 15mn soles in certificates of deposit (CDs) on the local market, which could be raised to 25mn soles depending on demand, the bank told the exchange. The E-series, zero-coupon CDs will have a nominal value of 10,000 soles each, be priced below par and mature on November 12, 2010. The issue is part of a larger 150mn-sol CD program. Local ratings agencies Pacific Credit Ratings and Class & Asociados rate the program at p1 and CLA-1, respectively. Mibanco was Peru's fifth largest commercial bank in terms of loans, with 3.34% of the total, and seventh largest in terms of deposits, with 2.42 % of the total at end-September, according to the regulator. *** Peruvian bank Banco Interamericano de Finanzas ( BIF) on November 11 sold US$5mn in bonds on the local market, with demand hitting US$11.4mn, BIF said in a filing with the exchange. The C-series, 3-year bonds had a fixed annual coupon of 4%. BIF was Peru's sixth largest commercial bank in terms of loans, with 3.18% of the total, and fifth largest in terms of deposits, with 3.47% of the total at end-September, according to SBS.