Costa Rica: More Vehicle Loan Bonds Planned

In June, the companies placed two series of bonds with collateral supported by future payments from its vehicle purchase loan portfolio. The securities were acquired for a total of $3.3 million.

Ronald Vargas, Sales Manager of the investment banking Group Improsa said to elfinancierocr.com that they plan to put together more such instruments with Credi Q and possibly with other companies selling and financing new vehicles.

The article adds that "this is the first trust with public offering of bonds based on the consumer sector in the country. Other bonds have been focused on the development of public works. This is the case of Banco de Costa Rica and its BCR Trust section. Its general manager, Eliezer Arias, explained that at the moment they are focussing on trusts for public and long term projects."

Source: elfinancierocr.com

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