Cuatrecasas guides IDB Invest in sustainable bank bond subscription to boost construction sector
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SubscribeCuatrecasas has advised Inter-American Development Bank (“IDB Invest”) on the subscription of 8 million sustainable bank bonds issued by Banco Inmobiliario Mexicano. These are guaranteed, non-subordinated, bearer, and serial bank bonds, worth a total amount of 800 million Mexican pesos (around USD 46 million).
The issuance was carried out in line with the principles of the International Capital Market Association (ICMA) and is intended to boost financing in the construction sector, as well as contribute to reducing the housing deficit in Mexico.
"In legal terms, this is a particularly relevant and innovative transaction, integrating various legal and regulatory figures into a single contractual framework, along with enforceable environmental and social obligations, positioning it as a highly sophisticated transaction for the development of sustainable finance in Mexico," said Gizeh Polo, Finance partner at the Mexico office.
In addition to supporting sustainable financial instruments with a positive impact on the region's economic and social development, the IDB Invest supports initiatives aimed at expanding access to housing.
The Cuatrecasas advisory team for this transaction was led by Gizeh Polo, along with lawyers Myriam Sancliment and Lorenzo Muñoz, from the Finance Practice of the Mexico office. On behalf of IDB invest, the advisory team was made up of Armando Simón, lead investment officer; Carlos Arguello, principal investment officer; and Diana Bogotá, lead counsel.
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