BLP advised IDB Invest on the structuring and acquisition of blue bonds issued by Banco Agrícola, S.A., as part of a bond issuance program of up to US$200,000,000. In this transaction, IDB Invest participated as anchor investor, acquiring US$10,000,000 corresponding to the first tranche of the issuance and providing technical advisory services.
The transaction is part of a bond program of up to US$200 million, structured in three tranches. The first tranche, in the amount of US$10 million, was subscribed by IDB Invest, while the second tranche, for US$10 million, and the third tranche, for US$5 million, contemplate the participation of international co-investors, including LAGreen Fund, managed by Finance in Motion. The bonds, denominated in U.S. dollars, will be listed on the El Salvador Stock Exchange, under the Green, Social and Sustainable Bond Issuance Guidelines.
BLP provided comprehensive legal advice to IDB Invest throughout the transaction, including the structuring of the issuance, the review and preparation of the transaction documentation, and the conduct of legal due diligence.
This transaction contributes to the diversification of financing sources in El Salvador, strengthens the development of the local capital markets, and further positions the country as a regional benchmark for financial innovation and sustainability. The issuance promotes financing for initiatives focused on responsible water management and the protection of marine ecosystems, constituting the first public blue bond issuance in El Salvador.
The BLP team was led by partner Zygmunt Brett, with the participation of Director José Góchez.