Mobiliare Launches US$300 Million Sustainability-Linked Bond Program with BID Invest Support

Mobiliare has launched a US$300 million sustainability-linked private bond program that will be issued in three phases to finance its regional expansion and support projects with sustainability components across Latin America. The first US$100 million tranche has already been placed, with BID Invest acting as the anchor investor.

The initial issuance includes a US$50 million investment from BID Invest, while BI Bank Panama, a subsidiary of Banco Industrial, and Banco General, S.A. each contributed US$25 million, according to Mobiliare CEO Guillermo Montano.

First issuance backed by BID Invest's "Originate to Share" model

Mobiliare and BID Invest explained that the transaction follows BID Invest's "Originate to Share" business model, which is designed to expand corporate issuers' access to international capital markets while attracting participation from private investors.

According to Montano, the US$300 million bond program will be executed in three stages. The first tranche has already been completed, while the second is expected to be placed during the remainder of 2026 and the third in 2027.

The bonds have a seven-year maturity, with principal repayment scheduled at maturity.

The proceeds will finance Mobiliare's expansion throughout Latin America, including projects in Guatemala, Peru, Mexico, Costa Rica, El Salvador, Colombia, Ecuador, Honduras, and Nicaragua. Montano noted that funded developments must include a sustainability component.

Customized industrial and logistics projects remain the company's core business

Mobiliare specializes in developing customized facilities for companies operating in manufacturing, distribution, supply chain, and service industries.

According to Daiann Irigoyen, the company's Strategy Director, clients define the location, size, and technical specifications required for their distribution centers or production facilities. Once contractual terms are agreed upon, Mobiliare acquires the land and oversees the project's development.

Sustainability remains a central part of the company's strategy. By the end of 2025, Mobiliare had completed 55 projects certified under LEED, EDGE, or FITWEL standards, representing more than 60% of its certifiable gross leasable area. An additional 23 projects are currently undergoing certification.

International financing reflects confidence in Guatemalan companies

Montano described BID Invest's participation as an important milestone for a Guatemalan company.

"It is highly significant that a multilateral institution like BID places its trust in a Guatemalan company for transactions of this scale, since these institutions are typically focused on supporting governments and financial institutions rather than private companies like ours," he said.

He added that reaching this stage required an extensive preparation process, including credit assessments conducted by Fitch Ratings and Moody's, both of which assigned favorable evaluations to the company.

Mobiliare had previously accessed international capital markets through a separate US$500 million bond issuance in New York during 2025. Montano believes the company's experience demonstrates that more Guatemalan businesses can obtain competitive financing through global capital markets as they strengthen their financial track records over time.

BID Invest highlights the role of sustainable capital markets

According to BID Invest, the transaction represents the first international bond issuance by a non-financial corporate issuer headquartered in Guatemala in which the institution has participated.

Rodrigo Navas, Director of the Corporate Clients team for Central America, Haiti, Mexico, Panama, and the Dominican Republic, explained that BID Invest serves as the private-sector arm of the Inter-American Development Bank Group.

He noted that approximately 60 thematic bond issuances, including social, green, and sustainability bonds, have been completed across Latin America, helping deepen regional capital markets and support economic development.

Navas confirmed that BID Invest invested US$50 million in the first issuance, while the remaining US$50 million was subscribed by BI Bank Panama and Banco General.

He also emphasized that private capital mobilization is a key component of BID Invest's "Originate to Share" strategy, making the participation of both banks especially relevant.

According to Navas, Mobiliare's projects generate economic impact by attracting foreign direct investment, creating quality jobs, and supporting economic growth across the countries where the company operates.

Private investors emphasize sustainability and long-term value

Representatives from both participating financial institutions highlighted sustainability as a key factor behind their investment decisions.

Silvia Elena Kilborn, Vice President of Corporate Banking at BI Bank Panama, explained that the institution had previously participated in transactions with Mobiliare and viewed the sustainability-linked bond as an attractive opportunity because it combines competitive financial returns with environmental and social responsibility.

Alexis Bethancourt, Vice President of Correspondent Banking and Treasury, added that BI Bank participated as an independent investor and viewed BID Invest's leadership in structuring the transaction as an important element that strengthened confidence throughout the investment process.

He also noted that transactions of this kind can contribute to the continued development of Guatemala's capital markets.

Meanwhile, Federico Albert, Executive Vice President of International Banking at Banco General, said the bank decided to participate because Mobiliare has been a longstanding client and the issuance aligns with two of the institution's strategic priorities: sustainability and environmental responsibility.

Albert explained that Banco General has spent more than a decade integrating environmental risk considerations into its lending portfolio and sustainability strategy. He also highlighted Guatemala's importance to the bank, noting that the country has become home to dynamic companies that have successfully expanded across Latin America as multilatinas.