Published on 4/21/2016 in the Prospect News Emerging Markets Daily and Prospect News Green Finance Daily.
New Issue: Banco Nacional de Costa Rica prices $500 million 5 7/8% notes due 2021 at 99.68
By Christine Van Dusen
Atlanta, April 21 – Banco Nacional de Costa Rica priced $500 million 5 7/8% five-year notes (expected ratings: Ba1//BB+) at 99.68 to yield Treasuries plus 463 basis points, a market source said.
BofA Merrill Lynch and JPMorgan were the bookrunners for the Rule 144A and Regulation S deal.
The proceeds will be used to fund eligible green projects.
| Issuer: | Banco Nacional de Costa Rica
|
| Amount: | $500 million
|
| Maturity: | April 25, 2021
|
| Description: | Senior notes
|
| Bookrunners: | BofA Merrill Lynch, JPMorgan
|
| Coupon: | 5 7/8%
|
| Price: | 99.68
|
| Spread: | Treasuries plus 463 bps
|
| Trade date: | April 20
|
| Settlement date: | April 25
|
| Expected ratings: | Moody's: Ba1
|
| Fitch: BB+
|
| Distribution: | Rule 144A and Regulation S
|
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