Banco de Costa Rica invests in third CAF bond issue in Costa Rican market

The investment was made through the firm subscription mechanism with Puesto de Bolsa BCR Valores, for a total amount of ₡15,000 million colones, equivalent to almost USD $30 million, at a 5-year term and a yield of 6.06%.

The issue, which was structured by BCR Valores and Citibank N.Y., represents a great attraction for the diversification of local currency investment portfolios. In addition, CAF has the highest risk rating in its history, after being recognized by the three main rating agencies as an AA-rated issuer.

“We are very pleased to strengthen our relationship with Banco de Costa Rica through this bond issue, which demonstrates the relevance of offering investment mechanisms in local currency to enhance the development of capital markets and provide more opportunities for Costa Ricans with favorable financing. This is yet another contribution by CAF to the future of the country and the region,” said Sergio Diaz-Granados, CAF's executive president.

Douglas Soto Leitón, General Manager of Banco de Costa Rica, said, “BCR's investment in this CAF issue and the participation of BCR Valores as placement and structuring brokerage firm, confirms the commitment of the BCR Financial Conglomerate with the sustainable development of the country and the creation of more and better opportunities for all citizens. With this investment, BCR reaffirms its interest in continuing to strengthen long-term strategic alliances with business partners with common interests such as CAF”.

CAF promotes the sustainable development and regional integration of its 21 member countries through the efficient mobilization of resources for the timely provision of multiple, high value-added financial services to public and private sector clients in shareholder countries.