Costa Rica
Press Release

ICE cancels international bond for $ 483 million

Bnamericas Published: Wednesday, November 10, 2021

This ICE release was published using machine translation.

This Wednesday, the Costa Rican Electricity Institute (ICE), through the Bank of New York Mellon, canceled $ 483 million of the bond called COSICE 2021, an international bond issued in 2011, whose term expired today.

The strategy for meeting this maturity involved the use of various funding alternatives, such as own resources, the issuance of a green bond in the local market, an international bond linked to sustainability (SLB for its acronym in English) and a loan in colones with the Bank of Costa Rica (BCR).

The cancellation benefits ICE's debt maturity profile, by extending the average maturity term and improving the financial conditions of the debt. Also, it allows reducing the exchange exposure, since a significant part of the maturity was financed in colones.

This measure is part of Strategy 4.0 and of the Roadmap for financial sustainability, the integral objective of which is to consolidate the Institution's economic stability.

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