BLP advises IDB Invest and Finance in Motion on investment in sustainable bonds  

June 24, 2024

BLP has advised IDB Invest and Finance in Motion on the investment in sustainable bonds to be issued by Banco Promerica.

IDB Invest and Finance in Motion acted as investors in structuring the public bond issue. The funds will be used to finance loans to micro, small and medium-sized enterprises owned by women, as well as for green projects. This investment is the first in a series of bond subscriptions to support IDB Invest’s objectives in Guatemala.

Banco Promerica’s public bond issue is the first of its kind in Guatemala, and it represents an important investment project to finance projects aimed at protecting the environment and combating the effects of climate change.

This issue is part of a programme under which Banco Promerica has received approval from the Monetary Board of Guatemala for an issuance programme of up to USD 500 million to issue green, social or sustainable bonds.

This bond issue will enable Banco Promerica to directly finance projects, companies and all types of environmentally friendly initiatives that focus on inclusive growth and environmental sustainability in the country.

BLP’s advice consisted of structuring the public bond issue, preparing all related documents, prospectuses and agreements, and negotiating with participants such as the issuer, the National Stock Exchange, the Superintendency of Banks, and brokers and agents, to achieve the final investment of USD 500 million in public bonds issued by Banco Promerica.

The BLP team on this transaction was led by partners Jorge Arenales and Pablo Umaña, with the support of associates Anneliss Wohlers and Fabián Osorio.

blplegal.com