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ICE raises $300 million with bond sale in international market
09/30/2021 Since 2 years

The Costa Rican Electricity Institute (ICE) managed to sell $300 million in “sustainable” debt bonds in the international market. The issuance, maturing in 2031, was placed at an interest rate of 6.875%.

The Institute reported that the issuance was structured under the Sustainability Linked Bond (SLB) format. This implies that the financial and structural characteristics may vary depending on whether or not the issuer achieves a certain pre-defined environmental, social and governance (ESG) sustainability objective. In other words, they are instruments based on expected future performance.

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