International bonds: Instituto Costarricense de Electricidad, 6.95% 10nov2021, USD
USP56226AC09

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  We expect the proceeds from the sale of the notes, which are U.S.$248.8 million, to prepay the outstanding indebtedness under the Bridge Facility in the amount of U.S.$210.0 million, for capital expenditures and for other general corporate purposes. Affiliates of Citigroup Global Markets Inc. and Deutsche Bank Securities Inc. are lenders under the Bridge Facility. As a result, affiliates of Citigroup Global Markets Inc. and Deutsche Bank Securities Inc. will receive a portion of the net proceeds of this offering. See “Plan of Distribution.” 33 EXCHANGE RATES From 1983 to 2006, Costa Rica maintained a crawling peg exchange regime with the U.S. dollar. On October 17, 2006, the government adopted a currency band system, with fixed upper and lower limits within which the col?n is allowed to float freely against the U.S. dollar. If the U.S. dollar fluctuates above or below the limits of the currency band, the Central Bank intervenes and purchases or sells to stabilize the currency. As of October 28, 2011, the currency band for the Costa Rican col?n had a fixed lower limit of 500 colones to the U.S. dollar, and a crawling upper limit of 660 (measured at a daily increase of 0.2 cents of colones on the U.S. dollar). The Central Bank intervenes in the exchange market by buying or selling at a set rate. The col?n has remained stable at a value near the lower limit of the currency band as shown in the tables below. Since 1992, there have been no controls on foreign exchange convertibility or remittance in Costa Rica. See “Republic of Costa Rica—External Sector of the Economy—Exchange Controls and Foreign Exchange Rates.” We are required by law to make all purchases or sales of foreign currencies through the Central Bank. The following table sets forth, for the periods indicated, the high, low, average and end of period rate for the sale of dollars for colones as reported by the Central Bank. The rates shown below are stated in colones that have not been restated in constant currency units. No representation is made that th
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