Nacion.com reports that "the most notorious drop is in the external trading bond which matures in 2023, which was issued last year and whose price in January reached 104%, and which on April 2 traded at 100.86%. "

Douglas Montero, Manager of Floor Trading and International Trading at Mercado de Valores said that "Bond prices are down as a sign that investors are making space for the new issue."

"This happens because, in some cases, investors want to make a change from current ones to new ones or because they want to maintain the same level of exposure to Costa Rica, but shared among several issues, therefore they sell a part to replace it with new bonds" said Adriana Rodríguez, head of strategy at Aldesa.

Meanwhile, Melvin Garita, CEO of Lafise Valores Costa Rica, said that yields of some bonds have faced upward pressure because of the movement of the Treasury of the United States: "this in conjunction with the announcement of a new placement has pushed down the price of Costar23 (bond for external debt that matures in 2023)," he added.

Source: Nacion.com

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