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Banco Bac San José to auction 15B Costa Rican colones in bonds

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Banco Bac San José to auction 15B Costa Rican colones in bonds

Banco BAC San José SA on Oct. 16 will auction standardized bonds worth some 15 billion Costa Rican colones, according to a securities filing.

The series CQ bonds will be issued Oct. 18 at a gross rate of 10.16% and over a term of 1,530 days. Funds will be applied to working capital purposes and minimum investment will be 1 billion colones.

The bank had previously sold 10 billion colones in debt on Sept. 25.

As of Oct. 8, US$ 1 was equivalent to 587.20 Costa Rican colones.