© 2026 Arizent. All rights reserved.

Peru closes second electronic wire transfer deal for Latin America

Published 1 Min Read

Peru-based Banco de Credito Peru (BCP) has finally closed an electronic-wire transaction featuring a similar structure to the Banco Nacional de Mexico, S.A. (Banamex) deal which closed last year (ASR 1/8/01 p.1). The deal, backed by non-treasury electronic-wire transfers, is a first-ever out of Peru and the second of its kind out of Latin America.

Political unrest in the country delayed the CCR Inc. MT-100 Payment Rights Master Trust from coming to market before the end of 2000. The $100 million certificates series 2001-A are due Jan. 10, 2008. The deal was led by ING Barings and MBIA Insurance Corp. provided a financial guarantee.

As a result, Standard & Poor’s Ratings Services and Moody’s Investors Service were able to rate the transaction AAA. S&P also said the rating reflects the investment-grade stand-alone rating assigned to the transaction, which is higher than BCP’s local currency counterparty rating of BB-pi. Moody’s said the shadow rating on the deal was investment-grade.

For reprint and licensing requests for this article, click here.

More From Asset Securitization Report

Turkish Banks Unwrap Deals in Post-Crisis World

The urge to unwrap is pretty strong these days. On both the originating and investing sides of the bench, players are itching to ditch the monoline guarantees that no longer add value. The Turkish banks that wrapped structured deals en masse from 2004 through 2007 are no different. At least three have taken action on […]

Peru and Brazil Kindle DPR Activity

During the last month of the year, Peru perked up, while an old hand from Brazil returned to the market. The three deals showed there was life in diversified payment rights (DPRs), in contrast to many other niches of global structured finance. Notwithstanding the vote of confidence from this corner of the structured finance world, […]

Itau, Unibanco Merger Raises ABS Questions

An announced merger between Brazilian banking behemoths Banco Itau Holding Financeiro and Unibanco-Uniao de Bancos Brasileiros has reverberated through Sao Paulo’s financial sector, as the move would produce the country’s largest bank. As of September, the combined assets of the two giants totaled R$575 billion ($271 million), accounting for roughly 20% of the local banking […]

Talk of Peru Is More than Ado

Banco de Credito del Peru (BCP), a pro in the future flows world, is poised to price a deal backed by diversified payment rights (DPRs) shortly. Two of its peers that have yet to tap this market, BBVA Banco Continental and Interbank Peru, are reportedly planning debuts. Why this spark of activity from Peru? For […]

Brazil Banks Issue Over $500M in DPR Deals

Tougher financing conditions, coupled with doubts over the return of looser credit, are drawing the leading Brazilian banks back to structured finance. Over the past couple of weeks, Banco do Brasil (BdB), Unibanco and Banco Santander’s Brazilian unit have tapped their diversified payment rights (DPRs). These come on top of the DPR deals that BdB […]