Alcogal, law firm in the sector of capital markets in Panama, recently advised Banco Promerica Costa Rica in a sustainable bond issue in Central America, for US$50 million and authorized by the Superintendency of the Stock Market of Panama.
Funds from sustainable bonds will be applied exclusively to finance or refinance a combination of green and social projects. The issuance carried out by Grupo Promerica is intended to help improve access to financing for small and medium-sized enterprises (SMEs).
In this transaction, our partner Arturo Gerbaud and senior associate Rita de la Guardia were advised Banco Promerica Costa Rica.
Support SMEs and Green Projects
The bond program will support SMEs and green projects in Costa Rica. IDB Invest, a member of the IDB Group, has granted Banco Promerica de Costa Rica S.A., a Partial Credit Guarantee Facility (PCG) of up to US$15 million.
This facility will guarantee one or more green, social, and sustainable bond issues in the Panama stock market under the bond program, which will help improve access to financing for small and medium-sized enterprises (SMEs) and expand their portfolio of green credit in Costa Rica.
About Grupo Promerica
Grupo Promerica counts with products and services in nine countries: Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica, Panama, Ecuador, Cayman Islands and the Dominican Republic.
About Alcogal – Law firm in the sector of capital markets in Panama
Widely recognized as the leading law firm in the sector of capital markets in Panama, Alcogal has a long and close working relationship with several prominent international banking institutions.
Our clients trust our experience and ability to deliver solutions-focused advice and deal execution, especially when the factual and legal issues are challenging and/or the financing structures are complex. They entrust us with the most sophisticated and challenging finance transactions.
The firm’s main strength is its well-trained group of lawyers, all with strong expertise in their respective areas of practice, who share the firm’s commitment to providing prompt and efficient solutions to our client’s needs.