Interbank returns to Miranda & Amado on $19 million public offering by Financiera Oh!

Peruvian law firm Miranda & Amado Abogados reprised its role advising Banco Internacional del Perú (Interbank) on a new issue by Financiera Oh!.

The issuance, of PEN 60 million ($19 million) negotiable certificates of deposit,  was carried out through a public offering in Peru under Financiera Oh!´s Fourth Program of Negotiable Certificates of Deposit registered with the Peruvian capital markets agency. Inteligo SAB acted as placement agent. The demand for the negotiable certificates of deposit almost doubled the amount offered and finally placed. The interest rate was set at 6.65625%.

Financiera Oh! is a Peruvian financial institution formed in 2009, it is part of Intercorp Group (through IFH Retail Corp).

On a separate operation which reunited the same issuer, arranger and placement agent, Financiera Oh! registered its First Program of Corporate Bonds with the Peruvian Superintendence of Capital Markets, for an amount of up to PEN 500 million ($150 million). On March 14, 2017, the first issuance under the program was placed through public offering for an amount of PEN 120 million.

Interbank instructed a team at Miranda & Amado with partner Nydia Guevara at the helm for the two transactions. The law firm had previously advised Interbank earlier this year and in 2016 on notes issues by Oh!

Ignacio Abella