Central American lender BAC Credomatic is planning to raise as much as $110 million in its second sale of sustainable bonds in the Guatemalan market after pricing its maiden offering earlier this year.
BAC Credomatic’s Guatemalan division has asked IDB Invest to acquire up to $100 million in five-year US dollar-denominated notes and mobilize $10 million from other investors, according to the multilateral development bank’s website.
The notes are part of a $500 million bond program that the Guatemalan lender asked IDB Invest to arrange last year.
BAC Credomatic didn’t respond to an email seeking comment on the deal.
The bank first issued $140 million worth of five-year bonds in February in a deal that drew investment from Latin American-focus green bond fund LAGreen and French development agency Proparco. It used the sale proceeds to provide loans to women-owned SMEs and to fund green projects.
BAC Credomatic operates in six Central American countries as well as Grand Cayman, Bahamas and the United Sates.