- The USD 20 million investment will be dedicated to investing in green initiatives within small and medium-sized enterprises.
Guatemala and Luxembourg, May 30, 2024 – LAGreen Fund, a leading green bond fund dedicated to Latin America and the Caribbean, proudly announces its investment in the first thematic bond issued in the Guatemalan market.
LAGreen’s subscription of USD 20 million to the Senior Sustainable Bond represents a pivotal moment for the local market as well as for Banco Promerica, as it ventures into the realm of thematic bond issuance. LAGreen’s involvement highlights the fund’s commitment to fostering green initiatives and catalyzing market development in Guatemala. Projects financed through the bond are expected to contribute to multiple Sustainable Development Goals (SDGs), including the promotion of affordable and clean energy and climate action. In parallel, the proceeds will support on advancing the objectives of Guatemala’s newly introduced Energy Transition law.
The investment was part of a USD 50m series issued by the bank, which also counted with IDB Invest as investor. The bond is structured according to the Sustainability Bond Guidelines issued by the International Capital Market Association (ICMA) and counts with a second party opinion from Pacific Corporate Sustainability (PCS). LAGreen’s investment was structured jointly with Symbiotics Investments, through a bond issued by Micro Small and Medium Enterprises Bonds S.A. and listed on the Luxembourg Green Exchange “LGX”.
This strategic collaboration between LAGreen Fund and Banco Promerica aligns with the fund’s mission to support the use of thematic bonds as a solution for better connecting capital market funding with sustainable projects across the continent.
“With this investment, LAGreen makes an important contribution to the development of the regional green bond market and continues pushing boundaries by enabling the first issuance of a thematic bond in the Guatemalan market.” said Johannes Scholl, Chairman of LAGreen.
“We are delighted for this collaboration with LAGreen. It allows us to continue promoting our mission of supporting inclusive growth and environmental sustainability in Guatemala. This investment not only reinforces our commitment to sustainable finance but also places us as leaders in the sustainable bond market”, commented Edgar Bran, CEO of Banco Promerica Guatemala.
In addition to the subscription, LAGreen is committed to providing technical assistance to Banco Promerica in enhancing its sustainability reporting and impact measurement capabilities. By bolstering the bank’s internal capacity and knowledge of thematic bonds, LAGreen aims to facilitate the delivery of high-quality reports that meet the evolving needs of bond investors.
Acerca de LAGreen
LAGreen Fund es el primer fondo de inversión de impacto dedicado a promover la emisión de bonos verdes en América Latina. El fondo tiene como objetivo apoyar los beneficios para el clima, el medio ambiente y la sociedad a través de la promoción del mercado de bonos verdes de América Latina. Con la intención de consolidar los bonos verdes como instrumentos para movilizar recursos hacia modelos económicos más sostenibles y verdes, LAGreen Fund proporciona asistencia técnica e invierte en bonos verdes emitidos en América Latina.
El Banco Alemán de Desarrollo (KFW) creó LAGreen Fund, con capital inicial aportado por la Unión Europea y el Ministerio Federal Alemán de Cooperación Económica y Desarrollo (BMZ) y Finance in Motion como asesor de inversiones. El fondo busca apoyar la emisión de bonos temáticos de alto impacto en la región, atraer un mayor volumen de financiación a largo plazo para proyectos sostenibles, así como apoyar a los emisores mediante asistencia técnica durante las distintas fases de preparación, emisión y post-emisión de los bonos, y mediante compromisos de compra de una parte significativa de la emisión.
Para mayor información, visite https://lagreen.lu/es/ y síganos en LinkedIn.
Acerca de Finance in Motion
Finance in Motion es un gestor de activos de impacto global enfocado exclusivamente en el desarrollo sostenible en mercados emergentes y economías en desarrollo. La empresa estructura, gestiona y asesora fondos de inversión de impacto que reúnen a inversores públicos y privados para abordar el cambio climático, fortalecer la conservación de la biodiversidad, fomentar el uso sostenible de los recursos naturales, mejorar los medios de vida y promover oportunidades económicas.
Para más información, visítenos en: www.finance-in-motion.com
También puede seguirnos en @financeinmotion and LinkedIn
About Banco Promerica Guatemala
At Grupo Promerica we believe that all individuals and businesses in our communities should exceed their limits to achieve the success they deserve. For more than 30 years, we have been supporting a banking system that develops relationships and offers products and services in nine countries: Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica, Panama, the Dominican Republic, Ecuador, and Grand Cayman.
About BIDInvest
IDB Invest, a member of the IDB Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects so that they achieve financial results and maximize economic, social and environmental development in the region. With a portfolio of $16.3 billion in assets under management and 394 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that respond to the needs of its clients in a variety of sectors.
About Symbiotics Investments
Symbiotics is the leading market access platform for impact investing, dedicated to private markets in emerging and frontier economies. The group offers investment, asset management and capacity building services. Since 2005, Symbiotics Investments has originated over 7,800 investments representing more than USD 9.9 billion for 591 companies in 96 countries.
Contacto de prensa LAGreen
Anne Johnson
Marketing & Communications
Teléfono: +49 69 271 035 742
Correo: info@lagreen.lu info@lagreen.lu
Media contact Banco Promerica Guatemala
Ana Beatriz Flores
Marketing & Communications
Phone: +502 2313-0700
Correo bflores@estrategica.com.gt
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