Banco Popular y de Desarrollo Comunal SA said it will auction bonds worth 10 billion Costa Rican colones on May 28 at a gross interest rate of 9.85%, according to a regulatory filing.
The Costa Rican bank plans to use proceeds from the issuance of the three-year, series Z13 notes for its financial intermediation activities, including direct lending and liquidity management.
As of May 23, US$1 was equivalent to 564.50 Costa Rican colones.
