CADU Inmobiliaria placed its first green bond in Mexico’s Bolsa Institucional de Valores (BIVA) for an amount of 502 million Mexican pesos. The bond was rated A+ by HR Hastings and AA-/M by Verum. It is partially guaranteed by IDB Invest (25%) and Sociedad Hipotecaria Federal (25%) in addition to a 10% liquid guarantee.
Actinver Casa de Bolsa acted as placement intermediary and Banco Sabadell as structuring agent. The rate was 9.13% per annum. The funds will be used to refinance housing projects throughout the country and will have environmental certifications known as ECOCASA.
This is the second issuance of a CADU BIVA-listed green bond, and the first in the Latin American housing sector to be certified by the Climate Bond Initiative (CBI) under the “Low Carbon Building” category.