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Banco BAC San José to offer 10B colones in bonds

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Banco BAC San José to offer 10B colones in bonds

Costa Rica's Banco BAC San José SA on May 28 will auction bonds worth 10.00 billion colones, according to a securities filing.

The San José-based bank will issue the 1,080-day Series CN securities May 30. They carry a gross interest rate of 9.78%.

The bank intends to use the proceeds from the issuance for working capital and the financing of short, medium and long-term operations.

As of May 22, US$1 was equivalent to 564.46 Costa Rican colones.