Costa Rican Telecommunications Brand Joins TISE Sustainable

• Published date: 08 March 2023
• Subject Matter: Finance and Banking, Media, Telecoms, IT, Entertainment, Financial Services, Mobile & Cable Communications
• Law Firm: Jersey Finance Limited
• Author: Jersey Finance

The largest sustainability-linked bond issued for the digital infrastructure sector in Costa Rica has been listed on The International Stock Exchange (TISE).

Liberty Costa Rica Senior Secured Finance (the issuer) has listed USD400,000,000 10.875% Sustainability-Linked Senior Secured Notes due 2031 on TISE's Qualified Investor Bond Market (QIBM) and the issuer has been admitted to the Exchange's sustainable finance segment, TISE Sustainable.

Anthony Byrne, Head of Bond Markets at TISE, said: "We are delighted to welcome this sustainability-linked bond to listing on TISE's Qualified Investor Bond Market (QIBM) and the admission of the issuer to our sustainable finance segment, TISE Sustainable."

The sustainability-linked bond was issued under the group sustainability-linked finance framework which has been verified by Moody's ESG Solutions as aligned with the five core components of the International Capital Market Association (ICMA) Sustainability-Linked Bond Principles and the Loan Market Association (LMA) Sustainability-Linked Loan Principles.

The proceeds of the issuance funded a participation in a loan to Liberty Servicios Fijos LY, S.A. (Liberty Costa Rica). Liberty Costa Rica is a provider of fixed and mobile telecommunications services to residential and business customers in Costa Rica and the financing is to support an expansion of the fixed network and 4G/5G coverage to narrow the digital divide. Liberty Costa Rica's ultimate parent company is Liberty Latin America...