Consolidated bank has issued a notice stating that it will pay the principal and interest on its corporate bond on Tuesday 22nd October 2019.
Senior fixed-rate notes will be paid 13.25% interest while subordinated notes will be paid 13.50% interest.
Interest on the senior floating rate notes will be the average 91-day Treasury bill rate, in addition, there will be a 2% margin with a minimum rate of 10% and a maximum rate of 13.75%.
The bank stated that the payment will be made to the bondholders whose names appear on the register at the close of business on 11th October 2019.
In July, the bank extended the maturity of the corporate bond by three months in order to allow its biggest shareholder, the government, to inject more capital.