IFC instructs BLP on $70M Costa Rican bond structuring

BLP advised the International Finance Corporation (IFC) in the structuring, registration, and authorization with the Costa Rican securities regulator of its AAA-rated bonds.

The total amount registered is 32 billion Costa Rican colones, or approximately $70 million. The registration with the Costa Rican securities regulator (SUGEVAL) was pursuant to the IFC’s local currency bonds Program B. 

The proceeds will be used to fund IFC operations in Costa Rica. The IFC already has a portfolio of $372 million dedicated to crucial sectors such as infrastructure, renewable energy, and financial markets in the country. 

IFC, a member of the World Bank Group, supports capital markets by issuing local currency bonds, providing investment alternatives for institutional investors and other private sector money managers. 

Partner David Gutiérrez led the BLP team advising the IFC before SUGEVAL.