Simpson Thacher Represents Bank of America and J.P. Morgan in Interbank’s Tier II Capital Bond Offering and Tender Offer
01.19.24
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The Firm represented Bank of America and J.P. Morgan as initial purchasers in connection with the offering by Banco Internacional del Perú S.A.A. (“Interbank”) of an aggregate principal amount of US$300 million 7.625% Subordinated Notes due 2034, which was conducted in reliance upon Rule 144A and Regulation S under the Securities Act. The notes will qualify as Interbank’s Tier II Regulatory Capital. The Firm also represented Bank of America and J.P. Morgan as dealer managers and solicitation agents in connection with a concurrent cash tender offer and consent solicitation whereby Interbank offered to purchase any and all of its outstanding 6.625% Fixed-to-Floating Rate Subordinated Notes due 2029.
Interbank is a leading provider of banking services for retail customers and commercial clients in Peru. Interbank is a subsidiary of Intercorp Financial Services, a NYSE listed company, and part of the Intercorp conglomerate in Peru.
The Simpson Thacher team included Juan Francisco Méndez, Laura Ribero and Larissa Gebrim (Capital Markets); and Jonathan Cantor (Tax).