IBD Invest structures first social bond sale for BNCR

IBD Invest structures first social bond sale for BNCR

IDB Invest International Financial Institutions Bonds Debt Fixed Income Capital Markets Social Bonds

IDB Invest, the private sector affiliate of the Inter-American Development Bank (IDB), said it has structured the first social bonds in the local market to be issued by Banco Nacional de Costa Rica (BNCR). IBD Invest has subscribed to $45 million out of $75 million in bonds, while FinDev Canada has signed on to buy the rest, the multilateral lender said in a press release on Monday. BNCR plans to use at least 40% of the proceeds to provide loans to women-owned micro-, small and medium-sized ente

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