Milbank LLP advised the initial purchasers and deal managers in connection with two issuances and two tender offers by Banco de Crédito del Peru (“BCP”), a commercial bank organized under the Republic of Peru. The firm advised the parties as initial purchasers on BCP’s issuances of US$700 million 2.70% senior notes due 2025 and S/2,500 million (approximately $746.4 million) 4.65% senior notes due 2024. The firm also represented the parties as dealer managers on the tender offers for BCP’s outstanding 5.375% senior notes due 2020 and up to approximately S/1,600 million aggregate principal amount of the outstanding S/2,000 million aggregate principal amount of 4.85% senior notes due 2020.

The proceeds from the offerings will be used by BCP to pay fees and expenses incurred tied to the tender offers and issuances, to pay the total consideration for the tender offers, and for general corporate purposes.

The Milbank deal team was led by Marcelo Mottesi, head of Milbank’s Global Capital Markets practice and co-head of the firm’s Latin America Group, along with associates Gonzalo Guitart and Kayla Mannucci, and Tax partner Andrew Walker with associate Jules Mugema.

Mr. Mottesi said: “We are thrilled to have played a role on the successful execution of these tender offers and new issuances, which mark the latest Banco de Crédito del Peru financings our team has worked on. Milbank has been actively involved in advising clients in Peru on their most complex transactions, and we look forward to continuing our reputation as a leading legal advisor in the country and in other key Latin American markets.”

Milbank has continued to advise on a transactions across a broad range of sectors in Peru. Recently, the firm has advised Peruvian company Consorcio Transmantaro S.A. on a $400 million green bond offering, the $940 million 144A/Reg S offering by Peru LNG, the $600 million inaugural Rule 144A/Reg S offering by Hunt Oil Company L.L.C., Sucursal del Perú and Peruvian wind power generation companies Parque Eólico Marcona S.A.C. and Parque Eólico Tres Hermanas S.A.C. on a $250 million private placement.

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