On March 27, the Republic of Costa Rica issued bonds in foreign currency for $1.5 billion with a yield of 6.55%, averaging a maturity in 2034. BLP served as a local counsel to Santander US Capital Markets LLC and J.P. Morgan Securities LLC, who acted as initial purchasers and joint administrators in this transaction. Official…
Category Archives: News
Blog, Costa Rica, El Salvador, Guatemala, Honduras, Labor & Employment, News, Nicaragua
Holy week holidays in Central America – 2023
30
Mar
Mar
During the week of April 2 to April 9, Central America celebrates Holy Week, which entails the enjoyment of holidays regulated by each country as follows: Guatemala: The holidays, which begin at noon on Wednesday, April 5, and continue until the end of Saturday, April 8, are mandatory payment days when an employer must pay…
27
Mar
Mar
On Tuesday, April 11, we celebrate 167 years since the hero Juan Santamaría burned the “Mesón de Guerra,” an act that enabled Costa Rican forces to defeat the North American filibusters at the Battle of Rivas; and, given its relevance to the country, established the date as a mandatory payment holiday. Under Law No. 9875,…
Banking & Finance, Blog, Environmental, Social and Governance (ESG), News
BLP advised IDB Invest on the granting a loan of up to $115,000,000 to Banco Davivienda (Costa Rica) S.A. to increase climate financing in Costa Rica
21
Mar
Mar
BLP has advised IDB Invest on the grant of a loan of up to $115,000,000 to Banco Davivienda (Costa Rica) S.A. financed by IDB Invest and several external lenders. The loan will be used to expand Davivienda’s portfolio of green products and favor the reduction of greenhouse gas emissions through support and financing of the…
15
Mar
Mar
On February 23, 2023, the National Commission for the Minimum Wage in Nicaragua, presided over by the Labor Ministry of the Nicaraguan Government, approved the adjustment of the current minimum wages for all the sectors of the national economy to be in effect from March 1, 2023, through February 29, 2024, as follows: Economic Sector…
Blog, Business Law, Guatemala, News
BLP advises Huntsman Corporation on the sale of its operation in Guatemala
06
Mar
Mar
BLP has advised Huntsman Corporation, a publicly traded global manufacturer and marketer of specialty and differentiated chemical products with revenues of approximately $8 billion annually, on selling its textile operations in Guatemala as part of a global transaction. Huntsman Corporation sold its division to Archroma, an SK Capital Partners portfolio company, for S593 million in…
Blog, Guatemala, Labor & Employment, News
New Regulations for the Issuance of Labor Misdemeanors Reports
06
Mar
Mar
It is essential for companies that submit quotations and bids for products and services to the State and its agencies to be informed that, as of Monday, March 6, new Regulations issued by the Ministry of Labor and Social Welfare will come into effect, with the following characteristics: 1. In the Registry of Absences from…
Blog, Costa Rica, News, Tax
Regulation of Law for the Attraction of Investors, Rentiers and Pensioners to Costa Rica: Golden Visa
01
Mar
Mar
Costa Rica is an ideal country to visit, retire to, and invest in, thanks to its excellent reputation for environmental protection, globally recognized ecotourism schemes, political and social stability, legal security, and health system. Under Executive Decree 43926-MGP-H-TUR, the regulations to the LAW FOR THE ATTRACTION OF INVESTORS, RENTHOLDERS AND PENSIONERS went into effect on…
Blog, Costa Rica, Environment, Health & Safety, News
New Law lays the foundation to promote Health Tourism in Costa Rica
27
Feb
Feb
Costa Rica has positioned itself as a leading country in medical tourism, having received more than $437 million a year for this activity. With the recent Law for the Promotion and Development of Health Tourism Services in Costa Rica, the country now has a regulatory basis to enhance the development of such foreign visits. The…
24
Feb
Feb
On February 23, 2023, Resolution MH-DGT-RES-0001-2023 modifying subparagraph e) of article 1 of Resolution DGT-R-36-2001, Reform of exempt operations related to exports established in article 11 of the Regulation of the Value Added Tax Law, was published. Consequently, effective as of February 23, 2023, for the transport services of goods destined for export to enjoy…