Portfolio Related News

InterEnergy Group issues the first 144A/Reg S Project Finance Green Bond in Latin America for US$262.7 million



  • The first placement of a corporate green bond in the Central American and Caribbean region, for a renewable energy portfolio.
  • Demand for the bonds was more than double the issued amount.
  • Transaction contributes to the fulfillment of the United Nations Sustainable Development Goals, promoting the generation of clean energy, through the financing of 100% renewable energy projects.

Portland Caribbean Fund II portfolio company, InterEnergy Group, announced the successful issuance of green bonds by UEP Penonomé II, S.A. (“UEP II”) for a total nominal value of USD 262.7 million. UEP II owns the largest wind farm in Central America and the Caribbean, located in Panama.

The international bond was issued under the 144A/Reg S Rules is the first issuance of green bonds by a company in the private sector in Central America and the Caribbean.

With this transaction, Portland and InterEnergy have advanced their environmental goals and contributed to the Sustainable Development Goals of the United Nations, especially the 7th goal focused on providing affordable and non-polluting energy through the development and financing of 100% renewable energy projects.

During the placement process offers were received for approximately US$535 million, more than double the issued amount. This result was achieved thanks to the interest of 58 investors from several continents, including several of the world’s most important institutional, global, and regional accounts focused on emerging markets and “green” bonds.

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For more information visit www.portlandpe.com or contact Douglas Hewson at dhewson@portlandpe.com.

About Portland Private Equity:

Portland Private Equity is a private equity fund management company currently focused on private equity growth opportunities in the Caribbean, Central America, and Colombia through its management of the AIC Caribbean Fund and its successor, Portland Caribbean Fund II.