Costa Rica: Government Issues $475 Million in Debt

The Ministry of Finance reported that the placement was made through an extraordinary auction of domestic debt securities in the local primary market.

Thursday, March 21, 2019

Costa Rican authorities informed that the collection was made through fixed rate securities in dollars with expiration in 2024, 2026 and 2029, and was assigned to 15 different stock exchange positions.


See "More Debt, But with Economic Recovery"

From the Ministry of Finance press release:


March 20, 2019. A total of US$475,042,872 million was raised this morning by the Ministry of Finance during an extraordinary auction of internal debt securities in the primary market, held through the National Stock Exchange.


The collection was made through fixed rate securities in dollars with expiration in 2024, 2026 and 2029, and was assigned to 15 different stock exchange positions.


For the securities in 2024, US$258 million were raised at a rate of 9%; for those in 2026, a total of US$100 million with a rate of 9.44%; and for 2029, US$115 million were issued, with a rate of 9.75%. The rates for 2024 and 2026 were lower than those allocated in previous auctions in dollars and in exchanges of issues of the same currency, while the 2029 series was allocated today for the first time.

Read full press release (In Spanish).

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