Banco Promerica’s public bond issue is the first such debt in Guatemala. It represents a significant investment project with the purpose of financing projects focused on protecting the environment and counteracting the effects of climate change. This issuance is part of a program in which Banco Promerica received approval from the Monetary Board of Guatemala for an issuance program of up to USD 500 million under which it issues green, social, or sustainable bonds.
This bond issue will enable Banco Promerica to provide financing directly to projects, companies, and all types of environmentally friendly initiatives focusing on inclusive growth and environmental sustainability in the country. In addition, Banco Promerica becomes the first financial institution in Guatemala to issue a bond of this type.
BLP advised IDB Invest and Finance in Motion, who acted as investors in structuring the public bond issue. These resources will finance loans to micro, small, and medium-sized women-owned businesses and for green projects. This investment represents the first in a series of bond subscriptions aimed at IDB Invest’s objectives in Guatemala.
BLP’s advice consisted of the structuring of the public bond issue, the preparation of all related documents, prospectuses, and agreements, and negotiation with participants such as the issuer, the National Stock Exchange, the Superintendency of banks, and brokers and agents, to achieve, finally, the investment of USD 500 million in public bonds issued by Banco Promerica.
The BLP team in this transaction was led by Partners Jorge Arenales and Pablo Umaña, with assistance from Associates Anneliss Wohlers and Fabián Osorio.
