Central American Bank for Economic Integration $500 million social notes
We advised the initial purchasers on the senior, unsecured fixed-rate notes offering

Davis Polk advised the initial purchasers in connection with a Rule 144A / Regulation S offering of $500 million aggregate principal amount of 1.140% senior notes due 2026 issued by Central American Bank for Economic Integration (“CABEI”).

CABEI is a multilateral development financial institution composed of 15 countries. It was established in 1960 by Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica as founding members and later joined by Panama, the Dominican Republic and Belize as non-founding regional members, and Mexico, Colombia, Argentina, The Republic of China (Taiwan), Spain, Cuba and The Republic of Korea as non-regional members. CABEI has developed the Social Bond Framework, under which it issued social bonds and shall use the proceeds to finance/refinance, in whole or in part, existing and future projects that are intended to deliver positive social outcomes.

The Davis Polk capital markets team included Maurice Blanco, Konstantinos Papadopoulos and Drew Glover. The tax team included William A. Curran and Po Sit. Members of the Davis Polk team are based in the São Paulo, Northern California and New York offices.