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Costa Rica's Grupo Mutual Alajuela to auction 500M colones in bonds

Grupo Mutual Alajuela - La Vivienda de Ahorro y Préstamo on Dec. 6 will auction standardized bonds worth 500.0 million Costa Rican colones, according to a regulatory filing.

The series U3 bonds, which will be issued Dec. 8, have a term of 1,331 days and carry a passive base rate.

Proceeds from the offering will be channeled to housing, family welfare and fiduciary credits, the company said.

The bond offering is part of the company's series U issuance program of mortgage participation contracts with a long-term global guarantee.

As of Dec. 1, US$1 was equivalent to 565.78 Costa Rican colones.