Costa Rica's Banco Interfin and Banco San Jose are expected to close a $62.5 million mortgage-backed securities transaction by the end of this month or in early June. It is currently the highest rated, non-wrapped, structured product coming out of Latin America, according to sources close to the deal.

The transaction features a political risk insurance policy from the Overseas Private Investment Corp. (OPIC) and the 144A deal is limited to qualified institutional buyers (QUIB). The A-tranche is $50 million and will be offered in the U.S., while the $12.5 million B-tranche will remain in Costa Rica.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.