By Christine Van Dusen
Atlanta, May 9 - Costa Rica's Instituto Costarricence de Electricidad (ICE) sold $500 million 6 3/8% 30-year notes (expected ratings: Baa3//BB+) at 98.359 to yield 6½%, a market source said.
The notes were talked in the 6½% to 6 5/8% area.
Citigroup and Deutsche Bank were the bookrunners for the Rule 144A and Regulation S deal.
ICE is Costa Rica's government-run electricity and telecommunications services provider.
| Issuer: | Instituto Costarricence de Electricidad (ICE)
|
| Amount: | $500 million
|
| Maturity: | May 15, 2043
|
| Description: | Notes
|
| Bookrunners: | Citigroup, Deutsche Bank
|
| Coupon: | 6 3/8%
|
| Price: | 98.359
|
| Yield: | 6½%
|
| Trade date: | May 9
|
| Settlement date: | May 15
|
| Expected ratings: | Moody's: Baa3
|
| Fitch: BB+
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 6½% to 6 5/8% area
|
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