“Costa Rica Exchange Lists First Green Bonds” – SSE Initiative – May 27, 2021

On May 27, 2021, the UN Sustainable Stock Exchanges (SSE) Initiative reported:

The Costa Rica Stock Exchange (Bolsa Nacional de Valores) has announced the first public offering of green bonds that will be fully placed in the local market. The resources will be used to refinance green credit lines, specifically related to renewable energy, energy efficiency and water management projects.

The bond issued by Banco Popular y de Desarrollo Comunal represents an amount of around $80 million with a five-year term and a risk rating of AA + (cri) / scr AA +. The issuance is also the first green bond referenced on the Interbank Reference Rate (TRI).

‘Costa Rica is very well positioned internationally due to its commitment to the environment, which gives us the advantage over other countries to attract foreign investors interested in these products and also become the Central American hub for green emissions. It is an opportunity that as a country we should not miss. I congratulate Banco Popular for being the pioneer, for daring to make a difference that not only benefits the capital market but also the sustainable development of our country. I am sure that this bond is only the first one of many others that will come to the market,’ María Brenes Quesada, Director of Business and Corporate Relations of the Costa Rica Stock Exchange (Bolsa Nacional de Valores).”

You may read the article on the SSE internet site.