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© Reuters Costa Rica placed bonds for 1,500 million dollars
San José, Mar 27 (.).- The Government of Costa Rica carried out this Monday the placement of 1,500 million dollars in bonds in the international market and celebrated that, with this, the strength and credibility of the country is demonstrated.
“The Government of Costa Rica has its strength in its great environmental, social and fiscal sustainability commitment that was reflected in the large number of offers received and the favorable performance that the operation concluded,” said the Minister of Finance, Nogui Acosta .
Official information indicates that during the day Costa Rica received close to 300 offers for a total of 7.3 billion dollars.
The 1,500 million dollars is the first placement of a total of 5,000 million dollars that Congress authorized the Government to place for a period of 3 years.
The negotiation on Monday was carried out by the Government with the advice of the Santander (BME:) and JP Morgan (NYSE:) banks.
“The transaction was structured with a bond with an average life of 10 years, smoothed amortizations in the last 3 years of the term (2032, 2033 and 2034), semi-annual fixed coupons and a yield of 6.55%,” the Ministry detailed. of Treasury.
The Costa Rican Government indicated that there was a broad participation of investors with a vocation for long-term investment such as pension funds, portfolio managers, banks and other institutional investors.
“The placement was a reflection of a great effort that the risk rating agencies had already recognized by raising Costa Rica’s credit rating, the fiscal discipline in spending and collection control, the commitment to comply with the agreements with the International Monetary Fund (IMF) and the country’s economic growth potential”, concluded Minister Acosta.
