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Banco Promerica de Costa Rica to offer 4B colones in bonds

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Banco Promerica de Costa Rica to offer 4B colones in bonds

Banco Promerica de Costa Rica SA on July 6 will place and issue 4 billion Costa Rican colones of bonds under its series G debt program, according to a July 2 filing.

The series G15 bonds have a term of 1,080 days and yield at a gross interest rate of 10.49%.

The company said it plans to use proceeds generated from the offering to fund the development of its financial intermediary operations and other activities.

As of July 2, US$1 was equivalent to 569.20 Costa Rican colones.