Banco Nacional de Costa Rica tenders for up to $200 million 6¼% notes

By William Gullotti

Buffalo, N.Y., April 28 – Banco Nacional de Costa Rica has commenced a partial tender offer for up to $200 million of its 6¼% notes due 2023 (Cusips: 059613AB5, P14623AB1), according to a press release on Thursday.

The company is offering a total consideration of $1,047.50 for each $1,000 principal amount of the Rule 144A and Regulation S notes to holders who tender by the early deadline, 5 p.m. ET on May 11. The early tender deadline is also the withdrawal deadline.

The total consideration includes a $30 early tender premium, which will not be paid to holders who tender after the early deadline.

In both cases, holders will also be paid accrued interest.

Tendered notes may be subject to proration if the cap is exceeded.

The offer will expire at 11:59 p.m. ET on May 25.

D.F. King & Co., Inc. (866 620-2536, 212 269-5550 or bncr@dfking.com) is the tender agent and information agent.

Citigroup Inc. (800 558-3745 or 212 723-6106) and J.P. Morgan Securities LLC (866 846-2874 or 212 834-7279) are the dealer managers.

The bank is based in San Jose, Costa Rica.

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