Latest St. Georges Bank News
May 2, 2019
St. Georges Bank & Company secured a $25 Million Loan from IDB Invest The transaction consists of a senior unsecured financing to St. Georges Bank & Company Inc. of up to US$25 million which is expected to be comprised as follows: (i) IDB Invest Senior Loan of up to US$5 million to be funded by the IDB Invest with a three-year tenor; (ii) IDB Subordinated A Loan of up to US$20 million to be funded by the IDB Invest with an 8-year tenor. The Project will be complemented by supporting the Bank on developing a Sustainable Finance initiative that will include four layers of advisory services support. First, the development of corporate sustainability policy. Second, the establishment of procedures and capabilities that allow the Bank’s functionaries to identify and manage green investments in SME segment. Third, the analysis and improvement of risk policy on environmental, social and climate risk. Fourth, support the Bank on maximizing benefits from the previous three layers to increase SMEs credit origination in sustainable investments. Hogan Lovells advised IDB Invest with Ricardo S. Martínez (Picture), Juan Enrique Lizardi and Antonio de la Esperanza. In Panama Alfaro, Ferrer & Ramírez -AFRA advised IBD Invest with Roberto Harrington.