Credit Suisse is arranging a $250 million deal securitizing diversified payment rights (DPRs) originated by Scotiabank Peru, the issuer’s debut in this asset class.

Fitch Ratings and Standard & Poor’s expect to give the deal ‘A’ and ‘A-’, respectively.

The bank is the fourth in Peru to issue a DPR bond. The three others are Banco de Credito del Peru, an old hand in the asset class; Banco Continental, which debuted in DPRs in 2008; and Banco Internacional del Peru (Interbank), one of the few Latin American originators that issued in the cross-border market last year.

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