Santo Domingo.- The Haina Electricity Generating Company (EGE Haina) is the first Dominican company to establish a trust for the issuance of fixed income securities with environmental impact, “green bonds,” for US$100 million, based on one of its renewable power plants, whose structure was assisted by the Investment Banking Area of Banco Popular Dominicano and will be launched on the market and managed by Fiduciaria Popular, subsidiaries of Grupo Popular, the financial entity announced Sunday.
“The Larimar I Securities Public Offering Trust will have as its main underlying asset the economic rights of the Larimar I Wind Farm, owned by EGE Haina, after having received approval of its constitution from the Superintendence of Securities Market of the Dominican Republic (SIMV),” says a statement.
The issuance program, structured under the guidelines of the SIMV and the International Capital Markets Association (ICMA), obtained an “A” risk rating by Feller Rate Dominicana; complies with the standards has been validated by Pacific Corporate Sustainability and has the first Climate Bond certification in the country, issued by the Climate Bonds Initiative.