Banco Internacional del Perú S.A.A. Announces Early Tender Results of its Tender Offer and Consent Solicitation for any and all of its 5.750% Senior Notes Due 2020

LIMA, Peru, Oct. 2, 2019 /PRNewswire/ -- Banco Internacional del Perú S.A.A., a Peruvian open-stock corporation ("Interbank", the "Bank" or "we"), today announced that U.S.$145,071,000 aggregate principal amount, or approximately 37.52% (the "Tendered Notes") of the outstanding 5.750% Senior Notes due 2020 issued by Interbank, acting through its Panamanian branch (the "Notes") were validly tendered and not withdrawn by 5:00 p.m., New York City time, on October 2, 2019 (the "Early Tender and Consent Date") in accordance with Interbank's Offer to Purchase and Consent Solicitation Statement dated September 19, 2019 (the "Statement") pursuant to which the tender offer and the consent solicitation are being made.

In addition, the Bank has received consents from holders of 37.52% of the Notes as of the Early Tender and Consent Date. The consents are not sufficient to effect the proposed amendment to the indenture governing the Notes as set forth in the Statement.

Holders that validly tendered prior to the Early Tender and Consent Date, and whose Notes are accepted, will receive a total consideration of U.S.$1,033.25 per U.S.$1,000 principal amount of Tendered Notes, which includes a consent payment of US$30.00 per US$1,000 principal amount of Notes, plus accrued and unpaid interest up to, but excluding, the early settlement date, which is expected to be on or around October 4, 2019 (the "Early Settlement Date").

The tender offer is scheduled to expire at 11:59 p.m., New York City time, on October 17, 2019, unless extended or earlier terminated by the Bank (the "Expiration Time"). Holders who validly tender at or prior to the Expiration Time and whose Notes are accepted will receive the tender offer consideration of U.S.$1,003.25 per U.S.$1,000 principal amount of Tendered Notes, plus accrued and unpaid interest up to, but excluding the settlement date, which is expected to be on or around October 18, 2019 (the "Final Settlement Date").

Consummation of the tender offer is subject to certain conditions set forth in the Statement.

The Bank has retained Citigroup Global Markets Inc. and J.P. Morgan Securities LLC to serve as the dealer managers and solicitation agents for the tender offer and consent solicitation. Questions regarding the tender offer and consent solicitation may be directed to Citigroup Global Markets Inc. at Attn: Liability Management Group, (800) 558-3745 (toll-free), (212) 723-6106 (collect) and/or to J.P. Morgan Securities LLC at Attn: Latin America Debt Capital Markets, (866) 846-2874 (toll-free), (212) 834-7279 (collect). Requests for documents may be directed to D.F. King & Co. Inc., the information agent and depositary for the tender offer, at (212) 269-5550 (collect) or at (888) 814-8954 (toll-free) or email: [email protected].

None of the Bank, the dealer managers and solicitation agents or the information agent make any recommendations as to whether holders should tender their Notes and deliver consents pursuant to the tender offer and consent solicitation, and no one has been authorized by any of them to make such recommendations.  Holders must make their own decisions as to whether to tender their Notes and deliver consents, and, if so, the principal amount of Notes to tender.

This press release is not an offer to sell or a solicitation of an offer to buy any security. The tender offer is being made solely pursuant to the offer documents.

The tender offer does not constitute, and may not be used in connection with, an offer or solicitation by anyone in any jurisdiction in which such offer or solicitation is not permitted by law or in which the person making such offer or solicitation is not qualified to do so or to any person to whom it is unlawful to make such offer or solicitation.

In any jurisdiction in which the tender offer is required to be made by a licensed broker or dealer and in which the dealer managers, or any affiliates thereof, are so licensed, the tender offer will be deemed to have been made by any such dealer managers, or such affiliates, on behalf of the Bank.

The new notes offered pursuant to the concurrent U.S. Dollar offering have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold within the United States or to any U.S. persons, except (a) to qualified institutional buyers ("QIBs") within the meaning of Rule 144A under the Securities Act ("Rule 144A"), in reliance on the exemption from the registration requirements of the Securities Act provided by Rule 144A, and (b) outside the United States to non U.S. persons in compliance with Regulation S under the Securities Act ("Regulation S").

Forward-Looking Statements

This press release contains forward-looking statements. Actual results may differ materially from those reflected in the forward-looking statements. We undertake no obligation to release publicly the result of any revisions to these forward-looking statements which may be made to reflect events or circumstances after the date hereof, including, without limitation, changes in our business or acquisition strategy or planned capital expenditures, or to reflect the occurrence of unanticipated events.

About Interbank

We are a leading provider of a wide range of financial products and banking services for retail customers and commercial clients in Peru. Our purpose is to be side by side with Peruvians so they can reach their dreams, today, and as such, we have built an integrated financial services platform in the fast-growing, underpenetrated and profitable Peruvian financial system. We have invested in building a leading and scalable digital platform (mobile and online), which is rapidly being adopted by existing and new customers. Our digital platform is complemented by one of the largest distribution networks in the country which includes financial stores, ATMs, correspondent agents, dedicated sales forces, financial advisors, and call centers. Together our digital platform and distribution network provide our more than three million customers and a potential market of more than 30 million Peruvians, and economically active population of 17.4 million and 9 million businesses with access to our products and services and a distinctive and convenient customer experience.

SOURCE Banco Internacional del Perú S.A.A.