ICE prints 30 year as duration demand hot

09 May 2013

Costa Rica’s Instituto Costarricense de Electricidad (ICE) followed in the footsteps of its sovereign on Wednesday, selling a nine times oversubscribed 30 year bond as investors remain keen on the extra yield on offer from longer maturities.

Just one day after Mexico’s Femsa had printed $700m of 2023s as part of a $1bn 10 and 30 year bond offering, ICE attracted more than $4.5bn in orders for its $500m Baa3/BB+ rated deal.

The government-owned borrower sold the bonds at 98.359 with a 6.375% coupon to yield ...

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