For the Record…Interbank Does $121.2 Million DPR
June 16, 2009
Banco Internacional del Peru, or Interbank, got $121.2 million in funds backed by diversified payment rights (DPR) earlier this month, sources confirmed. The seven-year deal priced at 425 basis points over three-month Libor.
According to PPL sister publication Asset Securitization Report, a large piece of the deal was bought by Dutch bank FMO, and two-thirds of the deal went to Peruvian investors. The transaction settled on June 12.
Lima-based Interbank is principally engaged in the commercial banking sector in Peru, and owns a number of subsidiary banks. It’s majority shareholder is bank holding company Intergroup Financial Services, which also counts Peru’s Interseguro among its holdings.
For the first quarter of 2009, Interbank reported net income of 68.2 million Peru Nuevos Soles ($22.7 million) versus net income of 73.5 million PEN for the year prior period. For the full year of 2008 the bank reported net income of 270.3 million PEN versus net income of 227.7 million PEN for the full year 2009.
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