Costa Rica mandates banks for up to USD1bn bond

Thu Mar 27, 2014 2:42pm EDT

COSTA DO SAUIPE, Brazil, March 27 (IFR) - Costa Rica has mandated Bank of America Merrill Lynch and Deutsche Bank for an international bond of up to USD1bn, the country's vice president of investment and public credit, Jordi Prat, said on Thursday.

The sovereign is considering a new 10-year or 30-year bond, or a combination of both. It is unable to tap its existing bonds with those maturities as they are trading at low dollar prices and would have original issue discount restrictions. (Reporting by Paul Kilby; Writing by Natalie Harrison; Editing by Marc Carnegie)

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