Hydro project bonds placed

The Banco Nacional subsidiary BN Valores says it has successfully closed on 15 trillon colons in bonds for the Compañía Nacional de Fuerza y Luz. The money will finance the Balsa Inferior hydro electric projects in San Carlos. The amount is about $30 million.

The bonds expire in 2023. The hydro project is supposed to provide enough power for 40,000 homes.

The brokerage firm said it placed half the amount in June and the remainder in July.

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