By Christine Van Dusen
Atlanta, April 2 - Costa Rica sold $1 billion 30-year notes (Baa3/BB/BB+) at par to yield 7%, or Treasuries plus 339.5 basis points, a market source said.
The notes were talked at a yield in the low-7% area.
BofA Merrill Lynch and Deutsche Bank were the bookrunners for the Rule 144A and Regulation S transaction.
The proceeds will be used to refinance debt.
| Issuer: | Costa Rica
|
| Amount: | $1 billion
|
| Maturity: | April 4, 2044
|
| Description: | Notes
|
| Bookrunners: | BofA Merrill Lynch, Deutsche Bank
|
| Coupon: | 7%
|
| Price: | Par
|
| Yield: | 7%
|
| Spread: | Treasuries plus 339.5 bps
|
| Trade date: | April 2
|
| Settlement date: | April 4
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BB
|
| Fitch: BB+
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Low-7% area
|
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