COFIDE, the Development Bank of Peru, has completed the issuance of a new one-year social bond for an amount in local currency equivalent to approximately 27 million dollars.

The transaction seeks to promote financing programs aimed at supporting micro, small and medium-sized enterprises (MSMEs) in Peru, through intermediate financial institutions (IFIs),

The issuance was oversubscribed by 1.4x the amount finally placed, resulting in a 6.375% annual interest rate (equivalent to a 90 basis points spread over the Central Reserve Bank of Peru’s Certificates of Deposit -CDBCRP- rate). The awarded amount was allocated among: Pension Fund Administrators (AFP) (55%), Public Sector Entities (27%), Mutual Funds (15%), Financial Entities (2%), Insurance and Health Provider Entity (EPS) (1%), and Brokers (0.2%).