ICE Looks to International Markets

Aldesa's analysis of ICE's decision comments that the company is looking to make the most of the joint conditions of low dollar interest rates and a lack of this kind of opportunity for investors.

The strategy sets a precedent for Costa Rican companies and the government.

So far no details are available about the issuance but it is speculated that it will be for a large amount since this will deliver greater liquidity.

Fitch Ratings has classified the possible debt issuance as BB+, the same rating as that of the country as a whole and one level below investment grade.

Source: Pulsobursatil.com

More on this topic

Cabcorp Bottling Company Issues Bonds for $150 million

February 2012

The Guatemalan company Central America Beverage (Cabcorp) will release bonds worth $150 million on the U.S. market next week.

For the second time the company is to issues securities in international capital markets. The first time the issuance, rated BB, Ba2 and BB + by the rating agencies Standards & Poors (S & P), Moody's Investors and Fitch Ratings respectively, was acquired by Citigroup Global Market Inc.

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.

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.

Successful Sale of $43 Million in Municipal Bonds

April 2011

At the Salvadoran Stock Exchange, the Multi Sector Investment Bank (BMI) successfully placed CEMUNIs, certificates of municipal debt.

The issuance was for a total $43.965.000, in two trenches, both rated AAA by Pacific Credit Ratings and AA by Fitch Ratings.

Oscar Lindo, Management director at BMI, explained that the funds will be used to change the debt structure of a group of 37 municipalities which joined the trust known as FIDEMUNI, seeking to lower their debt service by extending terms and lowering interest rates.