Monday 27 September 2021

Costa Rica Treasury Issues US$514 million in Bonds

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In the local market, an issuance was made of a fixed-rate security with maturity in November 2021 and 216 billion in securities in colones, with terms ranging from 2020 to 2029.

In a statement, the Ministry of Finance reported that “…The issue in colones raised a total amount of ¢216,205.83 million, in different titles with maturity from 2020 to 2029, associated with fixed and variable rate coupons (Sovereign Adjustable Real) and a fixed rate in dollars with expiration in November 2021, in which $514.82 million was raised; assigned to 15 participants.”

Nelson Alvarado, desk manager at Prival Bank, explained to Nacion.com that “… the agreed rate in the issue was 6.5%, which is attractive to savers, if we consider that a previous issue which expired in June 2021 had an interest rate of 5.70%.

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“… Aldesa also reported that dollar values were allocated equally to the market (15 buyers) and not to a single participant. The greatest share was that of Citi with $156 million.”

In the statement, the Deputy Minister of Finance explained that “…”With this amount raised, the Ministry of Finance will manage to meet a large part of the obligations due to the maturity of domestic debt in the first half of the current year.”

Source (in Spanish): Centralamericandata.com

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Q Costa Rica
Reports by QCR staff

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