Los Portales is the first real estate company in Peru to access a social bond from IDB Invest
1 min readInvestors, Customers
Los Portales signed a contract with IDB Invest for the issuance of bonds of up to approximately S/ 134 million (US$ 35 million) to finance part of the development cost of Urban Land Development and Social Housing projects focused on vulnerable populations, making us the first Peruvian real estate company to access this type of financing. We accessed the bond after being assessed by the firm Moody’s ESG, which confirmed that the bond framework is aligned with international standards.
As part of the bond issuance process, IDB Invest also advised us on the design of the methodological framework for the use of the Social Bond proceeds, which contains the criteria for selecting, monitoring and evaluating projects, aligned with the Social Bond Principles of the International Capital Market Association (ICMA).
We hope this financing will contribute to five United Nations Sustainable Development Goals (SDGs): No poverty (SDG 1), Clean water and sanitation (SDG 6), Decent work and economic growth (SDG 8), Reduced inequalities (SDG 10), and Sustainable cities and communities (SDG 11).
