By Christine Van Dusen
Atlanta, Nov. 3 - Costa Rica's Instituto Costarricense de Electricidad (ICE) priced a $250 million issue of notes due Nov. 10, 2021 (Baa3/BB+/) at par to yield 6.95%, a market source said.
The notes were whispered at the low- to mid-7% area.
Citigroup and Deutsche Bank were the bookrunners for the Rule 144A and Regulation S offering.
The proceeds will be used for debt refinancing and capital expenditures.
ICE is a state-owned electricity provider and telecommunications operator based in San Jose, Costa Rica.
| Issuer: | Instituto Costarricense de Electricidad (ICE)
|
| Amount: | $250 million
|
| Maturity: | Nov. 10, 2021
|
| Description: | Senior notes
|
| Bookrunners: | Citigroup, Deutsche Bank
|
| Coupon: | 6.95%
|
| Price: | Par
|
| Yield: | 6.95%
|
| Trade date: | Nov. 3
|
| Settlement date: | Nov. 11
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BB+
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | low- to mid-7% area
|
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