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Banco Nacional de Costa Rica says $144.96 million notes tendered early
By Mary-Katherine Stinson
Lexington, Ky., May 12 – Banco Nacional de Costa Rica announced $144,957,000 of its 6¼% notes due 2023 (Cusips: 059613AB5, P14623AB1) have been validly tendered as of the early deadline of 5 p.m. ET on May 11 and will be accepted for purchase, according to a press release.
As previously reported, the company is conducting a partial tender offer for up to $200 million of its 6¼% notes due 2023.
The company is offering a total consideration of $1,047.50 for each $1,000 principal amount of the Rule 144A and Regulation S notes to holders who tendered by the early deadline. The early tender deadline was also the withdrawal deadline.
The total consideration includes a $30 early tender premium, which will not be paid to holders who tender after the early deadline.
In both cases, holders will also be paid accrued interest.
Tendered notes may be subject to proration if the cap is exceeded.
The initial settlement date is May 13.
The offer will expire at 11:59 p.m. ET on May 25.
Final settlement is expected on May 27.
D.F. King & Co., Inc. (866 620-2536, 212 269-5550 or bncr@dfking.com) is the tender agent and information agent.
Citigroup Inc. (800 558-3745 or 212 723-6106) and J.P. Morgan Securities LLC (866 846-2874 or 212 834-7279) are the dealer managers.
The bank is based in San Jose, Costa Rica.
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