Home / Daily Briefs / 2023 / 26 / Banco Promerica sets up bond program in Costa Rica

Banco Promerica sets up bond program in Costa Rica

Banco Promerica sets up bond program in Costa Rica

May 26, 2023 | Hernán Goicochea
Panamanian lender's local unit plans to raise $80 mln as Davivienda and BAC Credomatic look to complete deals this month

Corporate & Sovereign Strategy Bonds Debt Fixed Income Capital Markets Costa Rica Panama

The Costa Rican subsidiary of Panamanian lender Banco Promerica said it received approval from local securities regulator Sugeval to set up a new bond program for $80 million. The bank plans to sell multiple series of notes in US dollars or Costa Rican colones with interest rates and maturities determined at the time of issue, it said in a securities filing on Wednesday. It added that it plans to use the proceeds to fund a capital increase. Sociedad Calificadora de Riesgo (SCR) assigned the new

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