Costa Rican Bank will place Bonds in Central America  

Banco Popular in Costa Rica plans to register bond issues in the financial markets of El Salvador, Panama and Nicaragua.

Wednesday, January 29, 2014

Pension funds in El Salvador and institutional investors in Nicaragua are the target for Banco Popular from Costa Rica, who plans to start three programs of issuances of debt worth $50 million.

Gerardo Abarca, financial manager of the company , told "We want to internationalize the bank in terms of fundraising. We had a good experience in Panama, an already well consolidated market. We expect to leverage these new places a niche of investors with an appetite for terms of over one year. In Costa Rica , investments in accounts as well as on the National Stock Exchange, are still very short, with terms of six months to one year.

In El Salvador there are operators who usually invest in pensions and long periods of 4 to 10 years. In Nicaragua , we recently an agreement signed with a broker and after that there will be sales to a selection of institutional investors who have the right profile.

Basically, we want to have programs of open bonds. The emissions programs are for amounts of $50 million for the three markets (El Salvador, Nicaragua, Panama) available. That does not mean that we will use it completely. The goal is to have a choice from which we can select the one that best fits the needs of the bank. "

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