ICE to Issue $342 Million in Bonds

The Costa Rican Electricity Institute (ICE) will invest the funds in new power generation projects.

Tuesday, September 22, 2009

Selling will begin by the end of this week in the National Stock Exchange (BNV), with an initial offer of $77 million (¢45.000 million).

"The money will be invested in new hydroelectric power stations, such as 'Diquís' and 'Reventazón', in addition to geothermal projects 'Borinque', 'Las Pailas II', and 'Nuevo Mundo'. It will also be used for improving existing power stations".

More on this topic

Bonds for $500 million with 30 year Term

May 2013

The minimum purchase amount of the bonds issued today by the Instituto Costarricense de Electricidad, is $200,000, with an estimated yield of 7%.

The final rate will be definitive after those in charge have completed the assignment of the book of offers by investors, on May 8," noted an article in Elfinancierocr.com.

Bonds Worth $1.08 billion During First Quarter

April 2012

In the first three months of 2012 the Government of Costa Rica sold bonds on the Stock Exchange for 420,000 million colones ($828.56 million) and $254 million.

By comparison, in the first three months of 2011, the Ministry of Finance had raised 438,000 million colones ($864.6 million) and $124 million, according to data from the Stock Exchange.

ICE Raises $11.6 million

February 2012

The Instituto Costarricense de Electricidad (ICE) has received $11.6 million from the stock market by issuing bonds denominated in that currency and which mature on February 13th , 2019.

According to a Blog by Aldesa, Pulso Bursatil:

The certificate has a coupon of 5.5% on a quarterly basis and was in demand by individual investors primarily because the average amount of the 105 offers was for $110,000.

ICE Releases $100 million in Bonds

February 2012

The Instituto Costarricense de Electricidad (ICE) will use the money raised to finance the expansion of mobile telephony, information services and Internet data centers, among other things.

The ICE has held an auction of $100 million worth of bonds to fund several works related to telecommunications, reported Nacion.com.

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