Banco Nacional taps IDB Invest for social bond

Banco Nacional taps IDB Invest for social bond

IDB Invest Inter-American Development Bank (IDB) Bonds Debt Fixed Income Costa Rica Central America United States ESG Social Bonds Capital Markets Coronavirus

Banco Nacional de Costa Rica (BNCR) has asked IDB Invest to support a $75 million bond sale to raise funds for loans to small and medium-sized enterprises (SMEs), according to documents on the multilateral lender's website.  According to the proposed transaction, IDB Invest will buy $50 million worth of social bonds from BNCR and organize impact investors to acquire up to another $25 million. IDB Invest's board is scheduled to review the transaction on May 27. BNCR will use part of the proceeds

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