BLP advises on the first issuance of a Social Bond in Costa Rica aimed to support the country’s SMEs and BN Mujer Program
IDB Invest, FinDev Canada, and BNCR support SMEs in Costa Rica with the country’s first issuance of a Social Bond.
BLP has advised our clients, IDB Invest as lead arranger and investor, and FinDev Canada as an investor in connection with the first issuance of a social bond in Costa Rica in accordance with the Social Bond Principles issued by the International Capital Markets Association. This is a private dematerialized subordinated issuance for a total of up to $75 million, issued by Banco Nacional de Costa Rica (BNCR). The Social Bond is regulated under Costa Rica law and structured under two series, subscribed as follows by the investors: $45 million by IDB Invest and $30 million by FinDev Canada.