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Published on 9/8/2020 in the Prospect News Emerging Markets Daily and Prospect News Liability Management Daily.

Banco Nacional de Costa Rica tenders for up to $150 million 6¼% notes due 2023

By Rebecca Melvin

New York, Sept. 8 – Banco Nacional de Costa Rica has commenced a partial tender offer for up to $150 million of its 6¼% notes due 2023, according to a news release.

The company is offering a total consideration of $1,036.25 for each $1,000 principal amount of the Rule 144A and Regulation S notes to holders who tender by the early deadline, 5 p.m. ET on Sept. 21.

The total consideration includes a $30 early tender premium, which will not be paid to holders who tender after the early deadline.

The offer will expire at 11:59 p.m. ET on Oct. 5.

Holders will also be paid accrued interest.

D.F. King & Co., Inc. (800 591-6313, 212 269-5550 or bncr@dfking.com) is the tender agent and information agent.

BofA Securities Inc. (888 292-0070 or 646 855-8988) and J.P. Morgan Securities LLC (866 846-2874 or 212 834-7279) and are the dealer managers.

The bank is based in San Jose, Costa Rica.


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