Shearman And Sterling

News January 17, 2024

Shearman & Sterling Represents Interbank on its $300 million Subordinated Notes Offering and Concurrent Abbreviated Cash Tender Offer

Shearman & Sterling represented Banco Internacional del Perú S.A.A. (“Interbank”) in connection with the Rule 144A/Regulation S offering of an aggregate principal amount of $300 million 7.625% Subordinated Notes due 2034. The subordinated notes qualify as Tier 2 capital pursuant to Peruvian banking regulations.

The firm also represented Interbank on the concurrent abbreviated tender offer for cash for any and all of Interbank’s 6.625% Fixed-to-Floating Rate Subordinated Notes due 2029, pursuant to which $194,852,000 aggregate principal amount of notes were tendered, representing 64.95% aggregate principal amount of notes outstanding.

Interbank is a leading provider of a wide range of financial products and banking services for retail customers and commercial clients in Peru.

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