Economy May 3, 2021 | 9:10 am

Bank, power company issue joint US$100M ‘green bond’

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.