ICE finances Reventazon with innovative loan, bond package

ICE finances Reventazon with innovative loan, bond package

Bonds

Costa Rican utility Instituto Costarricense de Electricidad (ICE) has closed a $905m financing package for the Reventazon hydroelectric project it sponsors, using a novel structure that comprises loan tranches and a bond. Part of the package is an A/B loan from the IDB. That has a $200m A tranche and a $135m B tranche which was sold to bond investors through the Reventazon Finance Trust (RFT). The 20-year senior bond has a 14-year average life and pays an 8% coupon. At an expected rating of Baa3

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial