NEWS
Innova Schools is the first Peruvian company to issue a public bond with social qualifications
09/12/2019 Since 1 year

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/

This post is also available in: Spanish

LATEST NEWS
Green bond market expected to take off in Argentina
The Argentine thematic bond market is looking for its platform to take off in Argentina. This is a relatively new niche in the country and in the region that requires certification under international standards, and h...
Since 1 week Read More
Argentina’s CNV calls for consultation to create special regime focused on sustainable investment
Argentina's National Securities Commission (CNV) has approved the opening of a public consultation on the creation of a new special regime for sustainable collective investment instruments. This is part of the consoli...
Since 2 weeks Read More
Asset owners set and commit to report on 2025 targets to support 2050 net-zero emissions
Thirty-three of the world’s largest investors have committed to setting and reporting on 2025 targets to support the transition to net-zero greenhouse gas emissions by 2050. The final Net-Zero Asset Owner Alliance’s I...
Since 2 weeks Read More