IDB Invest issued a gender social bond of approximately 122 million dollars, with a three-year maturity in Mexico. The funds will finance projects aimed at promoting gender equality and the empowerment of women in the region, thus helping to advance the United Nations Sustainable Development Goal Number 5, “Gender Equality”.
BBVA and HSBC acted as underwriters in the deal. Strong demand allowed underwriters to reduce the rate during the placement, from the initial indicative price of 3 basis points to 0 basis points over TIIE 28. Investment funds accumulated 64% of the bonds issued, followed by government institutions with the 22%, bank treasuries with 8%, insurance companies with 2% and 4% to pension funds, corporate treasuries and other investors.
This is the second thematic issue of the institution within its strategy to promote sustainable investment in Latin America and the Caribbean, which will be the engine to achieve a green and inclusive recovery after the pandemic. The issuance of this gender bond also demonstrates IDB Invest’s commitment to contribute to closing the financing gap for women. Since 2019 it has structured and subscribed the issuance of four bonds of this type. Moreover, to date IDB Invest has already supported 20 clients in different thematic issues: six green, eight social – including four on gender – and six sustainable issues.