Liberty Costa Rica, a provider of fixed and mobile telecommunications services for residential and B2B customers, issued a sustainability-linked bond (SLB) together with IDB Invest. The proceeds will be used to increase digital access and improve the quality of broadband in Costa Rica.

The transaction A/B structure consists of a 50 million dollars senior A-Loan financed by IDB Invest through its balance sheet and a 400 million dollars B-Bond financed through the issuance of a SLB in the international capital markets of debt under US Rule 144A and Regulation S. The second party opinion (PO) was issued by Moody’s ESG Solutions.

Additionally, IDB Invest will provide advisory services to Liberty Costa Rica in order to establish a roadmap for climate change mitigation actions. On the other hand, Liberty commits to Sustainability Performance Goals (SPTs) to cover a reduction of more than 30% direct and indirect emissions and a reduction of more than 35% in intensity of GHG emissions by operating unit.