Company name
Banco de América Central S.A. (BAC Guatemala)
Project number
14247-01
FI-2 operations are those where the risk potential is considered medium: the FI’s current or future portfolio consists of or is expected to consist of, business activities that have potential limited adverse environmental or social risks or impacts that are few in number, generally site-specific, largely reversible, and readily addressed through mitigation measures; or includes a very limited number of business activities with potential adverse environmental or social risks or impacts that are diverse, irreversible, or unprecedented.
E&S category
FI-2
Country
Guatemala
Sector
Financial Institutions
Status
Proposed
Disclosed date
07/18/2024
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
08/19/2024
Approval date
08/19/2024
Signed date
09/18/2024
Sponsoring entity
N/A
Investment Operations Department Contact
Financial Institutions Division
Investment type
Syndicated amount
N/A
Financing amount
USD $ 50,000,000
Currency
USD
Project scope and objective
The Project consists in the issuance of a sustainable senior unsecured bond, denominated in United States of America dollars (“US$”), issued in the Guatemalan capital market by Banco de América Central S.A. (the “Bank”) through a Bond Issuance Program for up to US$500 million. The first issuance will be for up to US$140 million, with IDB Invest potentially subscribing about US$50 million.
The bond will have a term of up to five years, including a grace period of up to 24 months. It is expected to be publicly offered and locally regulated. Other co-investors are expected to participate in further subscriptions under the same program.
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Contact information
For inquiries, comments and information requests about the project
Request informationAlternatively, you may also use the following contact information :
Client Contact
fabiola.reynoso@baccredomatic.gt
PHONE NUMBER
(502) 3764-2736 / (502) 5918-5175
POST OFFICE ADDRESS
Torre BAC - Avenida Reforma y 10a. calle de la Zona 9 / Ciudad de Guatemala 01009, Guatemala 01
IDB Invest Contact
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
IDB Invest Country OfficesIndividuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing mgm@iadb.org or by calling +1 202 312 4040.
As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing to mecanismo@iadb.org or MICI@iadb.org or calling +1(292) 623-3952.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
Environmental and social review
IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.
BAC GUATEMALA SUSTAINABLE BOND -14247-01- GU - ENVIRONMENTAL AND SOCIAL REVIEW (ESRS)
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