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November 9, 2016

Banco GNB Perú S.A. registered its First Subordinated Bond Programme with the Peruvian Superintendence of Capital Markest

Banco GNB Perú S.A. registered its First Subordinated Bond Programme with the Peruvian Superintendence of Capital Markest, for an amount of up to US$100 million or its PEN equivalent. On October 26, 2016, the first issuance under the programme was placed through public offer for an amount of US$ 15 million. Miranda & Amado Abogados has advised Credicorp Capital Servicios Financieros S.A., acting as the structuring agent for the transaction, and Credicorp Capital Sociedad Agente de Bolsa acting as the placement agent.

This has been the first time Banco GNB issues subordinated debt. The bonds issued as part of the first issuance (for US$15 million), as well as bonds to be issued in the future within the programme, will be considered as Tier 2 capital for the bank, as authorized by the Peruvian Superintendence of Banks.

The demand for the bonds exceeded in 100% the amount offered and finally placed. The interest rate was set at 5.4375%.

Miranda & Amado Abogados advised Credicorp Capital while Estudio Lazo, De Romaña & CMB Abogados advised Banco GNB.

 Counsel to Credicorp Capital Servicios Financieros S.A.:

In-house counsel – Giovanna García and Luis Schrader.

Miranda & Amado Abogados.

Partner Nydia Guevara and associate Josué Jaén.