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Promerica to issue bonds worth 2.5B Costa Rican colones

Banco Promerica de Costa Rica SA plans to issue bonds worth up to 2.50 billion Costa Rican colones March 16.

According to a securities filing dated March 12, the 720-day series G13 bonds carry a 9.78% interest rate. The securities mature March 16, 2020.

The company said it will use the proceeds from the offering to fund its finance intermediation business and other activities.

As of March 12, US$1 was equivalent to 570.41 Costa Rican colones.