At US$100M Dominican Republic issues its first ‘green bond’

Santo Domingo.- The power company EGE Haina raised US$20 million in the first placement of green bonds in the Dominican Republic, which are aimed at financing the expansion of the Larimar I wind farm, it said Mon.

“The bond issue corresponds to the first tranche of the Larimar I Public Offering trust, which has received authorization to issue up to US$100 million of debt.”

The demand was 15.27 times higher than the supply of 20 million dollars, “which denotes the interest of investors in this type of investment instruments that promote the sustainable development of the country,” according to the Banco Popular, administrator of the trust,” said the statement.

Investors will receive a fixed rate in dollars of 5.15%, with semi-annual payments and annual capital amortizations starting next July, with the maximum maturity of the asset being July 31, 2036.