Public Offer. In Larimar Public Offering Trust
Inversiones Popular, Grupo Popular’s brokerage, successfully placed the initial tranche of the country’s first green issue of the Larimar I Public Offering Trust No. 04 – FP, constituted by EGE Haina), with a demand that exceeded 15.27 times the offer of US $ 20 million, which denotes the interest of investors in this type of investment instruments that promote the sustainable development of the country.
The US $ 20 million of the initial tranche of this first Dominican green bond went on the market on December 29 with a fixed rate in dollars of 5.15%, distributed in 2 million trust securities, whose main underlying asset is made up of economic rights of the Larimar I Wind Farm, owned by EGE Haina, with its maximum maturity on July 31, 2036.
Interest payments in dollars will be made semi-annually, with annual capital repayments starting in July 2022.
The total amount approved in May 2021 was US $ 100 million, for which the placement of new tranches is planned throughout this year 2022. The Larimar I trust obtained a risk rating A, granted by Feller Rate Dominicana, while that Pacific Corporate Sustainability verified compliance with the Green Values Framework with the Green Bond guidelines issued by the SIMV and the International Capital Markets Association.
