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Peru’s InRetail Consumer to issue up to $350 million seven-year notes
By Christine Van Dusen
Atlanta, Sept. 30 – Peru’s InRetail Consumer is looking to issue up to $350 million of notes due in seven years (Ba1/BB+/) to fund a buyback of the company’s 8 7/8% notes due in 2018, a market source said.
The tender offer for all $300 million of the outstanding senior notes began earlier this month. InRetail expects to settle purchases of notes tendered by the early deadline on Oct. 10.
Credit Suisse is the bookrunner for the new issue of notes.
A roadshow started Monday and will run until Oct. 6.
InRetail Consumer is the pharmacy and supermarket division of Intercorp Peru, a conglomerate based in Lima.
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