Costa Rica's ICE to Raise $380m in Long-Dated Loans

Costa Rica's ICE to Raise $380m in Long-Dated Loans

Bonds Structured Finance

ICE, Costa Rica's national power and telecom company, will in the next two months raise $381m in long-term financing via the IDB and the syndicated loan market to support its infrastructure development in that country. The IDB is targeting a $200m 15-year A loan and a $181m 12-year B loan that will be syndicated out in the bank market. An official close to the process says using project finance-like covenants on the facility will allow lenders to monitor performance of the borrower and the loan

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