BICSA launches $50 million debt issue
The International Bank of Costa Rica (Banco Internacional de Costa Rica) has launched a debt issue in Panama with a maturity of three to five years.
Monday, June 16, 2008
With capital payments on maturity and quarterly interest payments the issue will be for 50 million dollars in series.
The current rates for investment in dollars available in Costa Rica represent attractive options- which are scarce right now, compared to the international markets.
The government of Costa Rica is seeking funding for infrastructure projects, taking advantage of low rates in the international market.
Analysts are warning that Honduran private banks are loosing interest in the debt certificates of the government, which has saturated the market with its bond issues.
Costa Rica's National Bank has issued on the international market $500 million five-year and $500 million ten year bonds with interest rates of between 5.3% and 6.5%.
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