07/21/2025 | Press release | Distributed by Public on 07/21/2025 18:15
San José, July 21, 2025.-The Central American Bank for Economic Integration (CABEI) successfully carried out the first-ever social bond issuance in Costa Rica's capital market, for a total amount of CRC71.5 billion (equivalent to US$141.7 million), with a 10-year maturity.
This operation marks a historic milestone for CABEI in the Costa Rican market, as it represents the Bank's largest placement in the country, as well as the first social and ESG-labeled bond issuance by a Multilateral Development Bank in that market. The transaction reaffirms CABEI's commitment to sustainable development and to the deepening of regional capital markets, where it continues to consolidate its position as the leading multilateral issuer.
The issuance was led by INS Valores Puesto de Bolsa S.A., with the support of Citibank. With this transaction, CABEI reaches its tenth issuance in the Costa Rican market, accumulating a total amount exceeding CRC353.136 billion (approximately US$649.9 million), highlighting the strategic importance of this market for the institution.
The issuance was backed by strong demand and investor confidence, achieving an oversubscription of 1.8 times the announced amount. The placement stood out for the participation of pension fund managers (OPCs), insurance companies, and other institutions, including new investors joining a CABEI issuance for the first time.
CABEI's Executive President, Gisela Sánchez, stated: "I am very proud of this new issuance in Costa Rica, not only because it is the largest we have carried out in this market, but also because it marks our first social-labeled bond. It sends a clear message about CABEI's commitment to sustainable development and to strengthening the region's capital markets." She added: "We are deeply grateful for the trust and strong support from investors, who once again stand behind CABEI's mission as Central America's development bank."
Mario Vásquez Castillo, Chief Executive Officer of Grupo Financiero Bolsa Nacional de Valores, also remarked: "CABEI's first public social bond marks a milestone in Costa Rica's capital market and reaffirms the power of sustainable finance as a driver of positive impact. At Grupo Financiero Bolsa Nacional de Valores, we celebrate this step that embraces inclusion, social development, and responsibility toward a more equitable economy. We recognize CABEI's leadership, vision, and confidence in our market, and we reiterate our commitment to promoting thematic issuances that generate well-being and transformation for our communities."
This issuance was carried out under CABEI's Sustainable Bond Framework and is aligned with its renewed Financial Strategy, which prioritizes the mobilization of ESG resources to finance high-impact projects. The proceeds will be allocated to social projects in sectors such as health, education, social development, and connectivity in Costa Rica and other CABEI member countries.