16	BONDS AND NOTES ISSUED

a)	This item consists of the following:

Annual interest rate

Interest payment

Maturity

Issued amount

2017

2016

(000)

S/(000)

Senior notes - (i)

5.38

Semi-annual

September 2020

US$800,000

2,612,379

2,755,382

Senior notes - (i)(x)

Between 2.75 and 4.25

Semi-annual

Between January 2018 and April 2023

US$596,455

1,948,082

2,082,913

Senior notes - (ii)

4.25

Semi-annual

April 2023

US$350,000

1,066,904

1,086,997

Senior notes - (xi)

2.25

Semi-annual

October 2019

US$300,000

954,131

1,005,955

Senior notes

4.85

Semi-annual

October 2020

S/2,000,000

1,958,571

–

CCR Inc. MMT 100 - Secured Notes - (iii)

2010 Series C Floating rate certificates

Libor 1M + 44.5 bp

Monthly

July 2017

US$350,000

–

179,230

2012 Series A and B Floating rate certificates

Libor 1M + 22.5 bp

Monthly

July 2017

US$150,000

–

97,884

2012 Series C Floating rate certificates

4.75

Monthly

July 2022

US$315,000

670,132

843,195

670,132

1,120,309

Corporate bonds -

Second program

Third issuance (Series A and B) – BCP

Between 7.47 and 8.50

Quarterly

Between June and July 2018

S/200,000

194,883

200,000

Third program

First issuance (Series A and B) - Mibanco

Between 5.38 and 5.41

Semi-annual

Between May and July 2017

S/98,800

–

20,766

Fourth issuance (Series A) - Mibanco

4.78

Semi-annual

December 2017

S/100,000

–

91,505

Fifth issuance (Series A and B) - Mibanco

Between 6.59 and 6.97

Semi-annual

Between January and March 2017

S/84,660

–

78,815

Fourth program

Tenth issuance (Series A, B and C) - BCP

Between 5.31 and 7.25

Semi-annual

Between December 2021 and November 2022

S/550,000

530,034

549,400

First issuance (Series A) - Mibanco

6.56

Semi-annual

July 2018

S/100,000

86,513

86,950

First issuance (Series B) - Mibanco

7.16

Semi-annual

June 2019

S/100,000

89,087

85,000

Fifth program

First issuance (Series A) - BCP

6.41

Semi-annual

April 2019

S/172,870

162,096

172,391

First issuance (Series B) - BCP

5.59

Semi-annual

June 2019

S/150,000

136,311

150,000

First issuance (Series C) - BCP

5.625

Semi-annual

November 2019

S/138,410

123,761

138,075

First issuance (Series D) - BCP

5.91

Semi-annual

January 2020

S/182,410

167,500

–

Sixth program

Third issuance (Series A) - Mibanco

5.16

Semi-annual

May 2017

S/50,000

–

46,165

1,490,185

1,619,067

Annual interest rate

Interest payment

Maturity

Issued amount

2017

2016

S/(000)

Subordinated bonds - BCP (iv)

6.13

Semi-annual

April 2027

US$720,000

2,333,152

2,423,720

Subordinated bonds - BCP (v)

6.88

Semi-annual

September 2026

US$350,000

1,135,050

1,194,773

Junior subordinated bonds - BCP (vi)

9.75

Semi-annual

November 2069

US$250,000

813,695

851,423

Subordinated bonds -

First program

First issuance (Series A) - BCP

6.22

Semi-annual

May 2027

S/15,000

15,000

First issuance (Series A) - Pacífico Seguros

6.97

Quarterly

November 2026

US$60,000

193,900

200,655

Second program

First issuance (Series A) - Mibanco

8.50

Semi-annual

May 2026

S/100,000

100,000

First issuance (Series B) - Mibanco

7.22

Semi-annual

June 2027

S/30,000

29,953

–

Third program

First, second and fourth issuance (Series A) - Mibanco

Between 6.19 and 8.16

Semi-annual

Between October 2021 and December 2022

S/110,000

39,978

109,980

Fifth issuance (Series A and B) - Mibanco

7.75

Semi-annual

July 2024

S/88,009

87,869

88,009

Issuance I - Banco de Crédito de Bolivia

6.25

Semi-annual

August 2028

Bs70,000

33,072

34,196

Issuance II - Banco de Crédito de Bolivia

5.25

Semi-annual

August 2022

Bs137,200

65,677

68,180

565,449

616,020

Negotiable certificate of deposit - BCP (vii)

7.17

Semi-annual

October 2022

S/483,280

–

478,837

Negotiable certificate of deposit - Mibanco

Between 1.8 and 5.9

Annual

Between January 2017 and December 2019

S/2,998

1,461

2,998

Subordinated negotiable certificates - BCP (viii)

6.88

Semi-annual

September 2026

US$126,120

390,450

402,139

Subordinated negotiable certificates - BCP (viii)

Libor 3M+ 279 bp

Semi-annual

November 2021

US$2,960

9,593

9,934

Leasing bonds

First program (ix)

Sixth issuance (Series A) – BCP

8.72

Quarterly

August 2018

S/100,000

100,000

16,049,234

15,750,467

Interest payable

193,023

189,136

Total

16,242,257

15,939,603

At December 31, 2017 the Group holds IRS for a nominal amount totaling US$2,442.4 million, equivalent to S/7,915.9 million (US$2,442.4 million, equivalent to S/8,196.8 million at December 31, 2016), See Note 12(b), which were designated as fair value hedges of certain corporate bonds, subordinated bonds and Notes denominated in U.S. Dollars at fixed rate; through said IRS, these bonds and Notes were economically converted to variable interest rate.

(i)

The Group can redeem these notes in whole or in a part at any time, with the penalty of the payment of an interest rate equivalent to that of the American Treasury plus 40 basis points. Payment of principal will take place at the date of maturity or redemption of the notes.

(ii)

The Group can redeem these notes in whole or in part at any time, with the penalty of the payment of an interest rate equivalent to that of the American Treasury plus 50 basis points. Payment of principal will take place at the date of maturity or redemption.

(iii)

All issuances are secured by the collection of BCP’s (including its foreign branches) future inflows from electronic messages sent through the Society for Worldwide Interbank Financial Telecommunications (“SWIFT”) network and utilized within the network to instruct correspondent banks to make a payment of a certain amount to a beneficiary that is not a financial institution.

At December 31, 2016, cash flows of issuances in 2010 with series “C”, which are subject to variable interest rates, have been hedged using an IRS designated as cash flows hedges for a nominal amount of S/179.2 million, See Note 12(b); through the IRS, said issuance was converted to a fixed interest rate. The issue matured in July 2017.

(iv)

From 2022, the Bank will pay a floating interest rate of three month Libor plus 704.3 basis points. Between April 24, 2017 and April 24, 2022, the Bank may redeem all or part of the subordinated bonds with the penalty of the payment of an interest rate equivalent to that of the American Treasury plus 50 basis points. Additionally, from April 25, 2022 or at any later date of coupon payment, the Bank will be able to redeem all or part of the bonds without penalty. Payment of principal will take place at the date of maturity of bonds or upon redemption.

In January 2014, the Bank, through its Panama Branch increased the issue of its subordinated bonds by an amount of US$200.0 million in the international market, as occurred in April 2013, when it carried out a first increase for an amount of US$170.0 million, with the same characteristics of the issue made in April 2012 for US$350.0 million.

(v)

From September 16, 2021, the interest rate becomes a floating rate of three month Libor plus 770.8 basis points. Between September 16, 2016 and September 15, 2021, the Group may redeem all or part of the bonds, with the penalty of the payment of an interest equivalent to the American Treasury plus 50 basis points. Additionally, from September 16, 2021 or at any later date of coupon payment, the Group can redeem all or part of the bonds without penalty. Payment of principal will take place at the date of maturity of bonds or upon redemption.

(vi)

In November 2019, interest rate will become a variable rate of three month Libor plus 816.7 basis points. On that date and on any interest payment date the Bank can redeem 100 percent of the bonds without penalty. Payment of principal will take place at the date of maturity or upon redemption.

This issuance, as authorized by the SBS, qualifies as “Tier 1” equity in the determination of the regulatory capital (“patrimonio efectivo”) and has no related guarantees.

(vii)

In October 2017, the interest rate became a variable rate, fixed as the average of at least three valuations of the internal rate of return for sovereign bonds issued by the Peruvian Government (with maturity in 2037), plus 150 basis points, with semiannual payments. The Group, using the powers conferred to it, on October 15, 2017, redeemed 100 percent of the negotiable certificates of deposit, without penalties.

(viii)

Until October 2016, said certificates bore interest at the fixed rate of 6.88 percent per annum. From November 2016, the interest rate will change to a floating interest rate, established as three month Libor plus 2.79 percent, with semiannual payments. Furthermore, from said date, the Group can redeem 100 percent of the debt, without penalties. Payment of principal will take place at the date of maturity of bonds or upon redemption.

(ix)

Leasing bonds are collateralized by the fixed assets financed by the Group.

(x)

In June 2014, the Group offered an exchange to the holders of senior notes, by which the notes were partially replaced with new notes, at market rate, with the same characteristics of the senior notes indicated in (i) above.

(xi)

The Group may redeem all or part of the notes at any time, subject to a penalty of a rate of interest equal to that of the U.S. Treasury plus 20 base points. The payment of principal will take place on the maturity date of the notes or when the Group redeems them.

At December 31, 2017, the cash flows of the bond issued in U.S. dollars, subject to exchange rate risk have been hedged by means of three CCS designated as a cash flow hedge for a nominal amount of US$300.0 million, equivalent to S/972.3 million, (US$300.0 million, equivalent to S/1,006.8 million at December 31, 2016), See Note 12(b). By means of the CCS, the bond was economically converted to soles.

The table below shows the bonds and notes issued, classified by maturity:

	2017		2016
	S/(000)		S/(000)

Up to 3 months		36,687		251,751
From 3 months to 1 year		1,236,046		407,200
From 1 to 3 years		6,508,352		3,009,004
From 3 to 5 years		760,102		3,271,925
More than 5 years		7,508,047		8,810,587
Total		16,049,234		15,750,467