Deutsche Bank and Citigroup Place Eurobonds

In the bidding held by the Costa Rican Ministry of Finance other bidders including JP Morgan, Barclays, Credit Suisse and HSBC have been ruled out.

Monday, October 22, 2012

The Costa Rican government announced that Citigroup and Deutsche Bank will be responsible for technical advice for the placement of up to $4 billion in Eurobonds.

Both their technical as well as economic proposals were the most favorable for the country, according to information from the Deputy Minister of Investment and Public Credit, Juan Carlos Pacheco.

The law firm responsible for the legal advice process is Arnold & Porter LLP.

The details of the placement in terms of amounts and dates were not disclosed because of restrictions in the rules of the U.S. stock market.

Under Costa Rican law, the government can place up to 1 billion dollars per year and the maximum is 4 billion.



More on this topic

Costa Rica Prepares Eurobond Issue

January 2015

The Ministry of Finance has started a process to contract an international bank to structure and place an issue of debt for an amount between $500 and $1 billion.

The Ministry of Finance started the process to place a new issue of sovereign debt this year, for an amount which, although not yet confirmed, will range between $500 and $1 billion.

Costa Rica Places 12 and 30 year Eurobonds

April 2013

The interest rates on these bonds will be 4.5% for 12 years and 5.75% for 30 years.

The new issue of external debt bonds to be released by the Ministry of Finance this year will mature in 2025 and 2043.

As required by law, the maximum amount of the issue will be $1 billion.

Arnold & Porter to Structure Eurobond Issue

September 2012

The international legal consulting firm will be responsible for representing Costa Rica in the process of issuing Eurobonds.

A press release from the Ministry of Finance of Costa Rica reads:

Arnold & Porter LLP is the international legal consulting firm which will be responsible for representing the country in the process of issuing Eurobonds, reported the Minister of Finance, Edgar Ayales this afternoon.

Costa Rica to Issue Eurobonds in November

August 2012

The international debt issuance, approved on Aug. 23 by the Legislative Assembly of Costa Rica, will be put on sale in November.

This was stated by the Minister of Finance, Edgar Ayales, who said they have not yet defined where ir will be issued, or who will be the underwriter. He added that contact will be resumed with the banks who may structure the issue, in order to begin preparing the bidding rules.

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