NEWS
Innova Schools is the first Peruvian company to issue a public bond with social qualifications
Since 11 months

Innova Schools has achieved in September 9 the first issuance of social bonds in the Peruvian market for S / 230 million, within the framework of its First Securitization Bond Program for S / 1,000 million. The operation was structured and placed by Credicorp Capital and Interbank. The social bons issued are long-term deals (15 years) and denominated in Peruvian currency.

Colegios Peruanos S.A. (Innova Schools) aims to improve the quality of education for the emerging middle-class population in Peru through the development of strong education programs that are up to par with international standards. Innova Schools has developed a Social Bond Framework to issue social bonds, where an amount equal to the issuance will be used to finance or refinance, in whole or in part, new and/or existing social assets.

The bond had a positive SPO (Second-Party Opinion) by Sustainalytics, who stated that the Innova Schools Social Bond Framework is credible and impactful and aligns with the four core components of the Social Bond Principles 2018.


Sources:
https://www.sustainalytics.com/sustainable-finance/wp-content/uploads/2019/05/Innova-Schools-Social-Bond-Second-Party-Opinion-05092019.pdf
https://www.innovaschools.edu.pe/pdf/Innova%20Schools%20Social%20Bond%20Framework.pdf
http://semanaeconomica.com/article/mercados-y-finanzas/mercado-de-valores/372508-innova-schools-emitio-los-primeros-bonos-sociales-en-el-peru-por-s-230-millones/

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