Intercorp Peru Ltd Announces Results of the Tender Offer for Any and All of its 5.875% Senior Notes Due 2025

LIMA, Peru, July 29, 2019 /PRNewswire/ -- Intercorp Perú Ltd., a Peru-based holding company organized under the laws of The Bahamas ("Intercorp") (Lima Stock Exchange: INTCOBC1), the parent company of Intercorp Financial Services (IFS), InRetail Peru, InRetail Pharma and InRetail Shopping Malls, among others, announced today that the previously announced tender offer for cash (the "Tender Offer") for any and all of its outstanding 5.875% Senior Notes due 2025 (CUSIP Nos. 458652AA2 and P5625XAB0) (the "Notes") expired at 5:00 p.m., New York City time, on July 24, 2019.

According to information provided by D.F. King & Co., Inc., the information and tender agent for the Tender Offer, $164,046,000 aggregate principal amount of the Notes were validly tendered prior to or at the expiration of the Tender Offer and not validly withdrawn. No Notes were tendered pursuant to the guaranteed delivery procedures described in the Offer to Purchase, dated July 17, 2019 (the "Offer to Purchase").

The conditions to the Tender Offer, including the pricing of Intercorp's concurrent offering of senior notes, have been satisfied and Intercorp accepted for purchase today, July 29, 2019, all Notes that were validly tendered prior to the expiration of the Tender Offer and not validly withdrawn.  Intercorp paid the consideration for all Notes tendered and accepted for payment, plus accrued and unpaid interest up to, but not including, today, July 29, 2019, the settlement date of the Tender Offer.

Intercorp funded the purchase of the Notes with part of the proceeds from its concurrent offering of senior notes, which was completed today, July 29, 2019.  Intercorp intends to redeem any remaining Notes not purchased in the Tender Offer in accordance with the indenture governing the Notes. This press release does not constitute a notice of redemption of the Notes.

Intercorp engaged Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC as the Dealer Managers for the Tender Offer.

This press release is not an offer to sell the Notes or any securities and it is not soliciting an offer to buy Notes or any securities of Intercorp or any of its subsidiaries, nor will there be any sale of the Notes or any other security of Intercorp or any of its subsidiaries in any jurisdiction in which such offer, sale or solicitation would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. 

About Intercorp
Intercorp is a Peru-based holding company organized under the laws of The Bahamas. Intercorp is a holding company for one of Peru's largest business groups.  Focused on Peru's growing middle class, Intercorp provides a variety of services to satisfy consumers' evolving preferences for modern goods and services.  Intercorp's cash flows are primarily generated by dividends from subsidiaries.  Intercorp's businesses are mainly focused on three industries: financial services, retail (including shopping malls), and education.  Intercorp manages its businesses primarily through two principal holding companies, Intercorp Financial Services Inc. and InRetail Peru Corp.

Forward-Looking Statements
Certain statements contained in this news release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent Intercorp's expectations or beliefs concerning future events, and it is possible that the results described in this press release will not be achieved. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of Intercorp's control, that could cause actual results to differ materially from the results discussed in the forward-looking statements.

Any forward-looking statement speaks only as of the date on which such statement is made, and, except as required by law, Intercorp does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time and it is not possible for management to predict all such factors.

SOURCE Intercorp Perú Ltd.