IFC Leads Innovative $770 Million Investment in ENERGUATE to Improve Electricity Service Quality in Guatemala
Guatemala, Oct. 21 -- The International Finance Corporation (IFC), part of the World Bank Group, announced the closing of an innovative investment totaling $770 million in ENERGUATE, the leading electricity distribution company in Guatemala, to improve service quality in the Central American country and refinance existing debt.The loan, structured as an "A/B Bond", consists of a direct loan of $100 million from IFC's own account and $670 million funded through an international bond issuance. This is the first time this instrument has been used in Guatemala. It is also the largest A/B Bond in IFC's history.The international bond, maturing in 2035 and arranged by Deutsche Bank Securities, J.P. Morgan, and Santander, attracted outstanding mark...
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