CorpBanca to back renewables with USD 750m bond issue

Sep 18, 2014 - Chilean lender CorpBanca (SCL:CORPBANCA) will place USD 750 million (EUR 582.7m) in bonds on the foreign market, planning to use some of the proceeds to back renewable energy projects.

The amount raised will also be injected in various other business ventures, such as infrastructure projects, CorpBanca general manager Fernando Massu said in a note.

The five-year bond will bear an annual coupon of 3.875%. The interest will be paid semiannually.

Chile had 42 power projects under construction at end-August with a combined capacity of 3,518 MW. The total includes 21 solar and four wind schemes.

(USD 1.0 = EUR 0.776)

Choose your newsletter by Renewables Now. Join for free!