ICE sells US$40mn in 10-yr bonds
Bnamericas Published: Friday, December 05, 2003
Costa Rican utility ICE has sold US$40mn in ten-year bonds on international markets, ICE president Pablo Cobb was quoted as saying by local press. The bonds pay 7% a year interest, Cobb said. Demand was higher than expected and the interest rate paid was lower than Mexican state-owned companies CFE and Pemex, he said. The finance ministry and central bank have already approved the sale of a further US$60mn in bonds, he added. Referring to government plans to introduce some competition to the telecoms sector, currently an ICE monopoly, Cobb said "we believe ICE can compete with anyone, as long as it is strengthened by a law that is being discussed in congress."
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