CR Refiner Looks for Debt

Costa Rican state oil refiner Recope is preparing up to $200m-equivalent issuance in the domestic and other Central American bond markets, it says. After receiving regulatory approval, the issuer plans a $50m tranche this year, and the remainder next year and 2014. The proceeds will be used in the development of several projects, including expansion of the Moin terminal. The issue is rated AAA on a national scale.