March 19, 2021 |
The Inter-American Development Bank (IDB) has provided details on the terms and conditions of the $250 million loan that it signed with the Colombian city of Barranquilla on March 15.
The 25-year loan comes with a 5.5-year grace period and a weighted average life of 15.25 years, the IDB said in an email.
The spread starts at three-month Libor plus 0.9%, but it could change every three months, depending on market conditions. The all-in rate was initially set at 1.29%, the IDB added.
The loan, w
US-based development bank charges 1.29% for the 25-year loan, but says the rate could change every three months