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Banco De Credito Del Peru Announces Early Exchange Results For Its Previously Announced Exchange Offer

LIMA, Peru, April 8, 2013 /PRNewswire/ -- Banco de Credito del Peru (the "Company") announced today the early settlement results for its offer to exchange up to U.S. $350 million aggregate principal amount (the "Maximum Tender Amount") of its outstanding 4.75% Senior Notes due 2016 (CUSIP Nos. 05954TAG6 / P09645AG0 and ISIN Nos. US05954TAG67 / USP09645AG07)  (the "Existing Notes") for newly issued 4.25% Senior Notes due 2023 (the "New Notes") (the "Exchange Offer").

The terms and conditions of the Exchange Offer are set forth in the Exchange Offer Memorandum dated March 25, 2013 (the "Exchange Offer Memorandum") and the related letter of transmittal. 

As of 5:00 p.m., New York City time, on April 5, 2013 (the "Early Exchange Date"), the Company received as validly tendered and accepted for exchange approximately U.S. $317,572,000 in aggregate principal amount of Existing Notes.  Subject to the terms and conditions of the Exchange Offer, the Company expects to settle the Exchange Offer for those notes on April 10, 2013 (the "Early Exchange Settlement Date"). On the Early Exchange Settlement Date, Eligible Holders of such notes will receive the Total Exchange Price (as described in the Exchange Offer Memorandum).

All Eligible Holders whose Existing Notes are validly tendered and accepted for exchange will also receive a cash payment equal to the accrued and unpaid interest on their Existing Notes accepted for exchange from the last applicable interest payment date up to, but excluding, April 10, 2013, less the amount of interest accrued on the New Notes from April 1, 2013, the date of the closing of the Company's recent offering of U.S. $350 million 4.25% Senior Notes, to, but excluding, April 10, 2013.  Cash in lieu of any fractional portion rounded down of a New Note will be paid on the applicable settlement date based on the Total Exchange Price or the Exchange Price, as the case may be.

Tenders of Existing Notes in the Exchange Offer may no longer be withdrawn, except as required by applicable law.  The Exchange Offer will expire at midnight, New York City time, on April 19, 2013, unless extended (such time and date, as the same may be extended, the "Expiration Date").  The final exchange settlement date (the "Final Exchange Settlement Date") is expected to be the next business day following the Expiration Date ( April 22, 2013), or as soon as practicable thereafter. On the Final Exchange Settlement Date the Company will, subject to the terms and conditions of the Exchange Offer, settle the exchange of all Existing Notes that have been validly tendered after the Early Exchange Date and on or prior to the Expiration Date.

Eligible Holders who validly tender Existing Notes for exchange after the Early Exchange Date, but on or prior to the Expiration Date, will receive the Exchange Price, which is equal to the Total Exchange Price less the Early Participation Payment (each as described in the Exchange Offer Memorandum). 

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