The project consists on the issuance of debt securities under a private placement of up to two hundred million United Stated dollars ($200,000,00.00) (the “Securities”) in order to finance post-graduate student loans. At least 50% of the student loans will be for Latin American and Caribbean students attending top-tier universities (the "Project"). It is anticipated that the financing will consist on the subscription of Securities by IDB Invest for up to one hundred million United Stated dollars ($100,000,000.00) of the Securities issued.
The Project will provide access to financing for Latin American and Caribbean students to attend top-tier post-graduate institutions, an estimated 75% of whom return to the region. Financing for international post-graduate education at top tier institutions, is relatively scarce, and Prodigy Finance's business model addresses many of the constraints to access to financing for international students.