BBVA Perú preps debut social bond - LatinFinance
BBVA s Peruvian subsidiary has requested IDB Invest to arrange a $200 million social bond placement in the international market. IDB Invest, the private sector arm of the IDB Group, could acquire up to $75 million worth of five-year US dollar-denominated notes and mobilize an additional $125 million from other investors. The proceeds from this bond placement will be used by BBVA Perú to provide financing for women-owned micro and small businesses. In August, BBVA Perú received regulatory approval to issue up to $200 million worth of ESG bonds through a private placement, either in US dollars or Peruvian soles. Earlier in March, the bank raised $300 million in a sale of 10-year bonds in the international market. BBVA s parent company, based in Madrid, issued social bonds for the first time in May 2020, raising €1 billion ($1.1 billion). Subsequently, BBVA s Mexican and Colombian branches followed suit in 2022 and 2023, respectively. This initiative by BBVA s Peruvian subsidiary and IDB Invest aims to support women-owned businesses in Peru through the issuance of social bonds in the international market. The collaboration between these entities demonstrates a commitment to promoting sustainable and inclusive economic growth in the region.
Source: latinfinance.comPublished on 2024-10-06