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Banco BAC San José to auction 10B colones in bonds

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Banco BAC San José to auction 10B colones in bonds

Banco BAC San José SA on March 13 will auction standardized bonds worth 10.0 billion Costa Rican colones, according to a securities filing.

The series CM bonds, which will be issued March 15, will yield at a gross rate of 10.33% and have a term of four years.

Funds from the offering will be used by the bank for its working capital.

As of March 7, US$1 was equivalent to 570.64 Costa Rican colones.