Los Portales, a leading company in the housing and construction sector in Peru, issued its first social bond for an amount in local currency equivalent to 35 million dollars with a 10-year term. The bond was fully structured and subscribed by IDB Invest.

The proceeds will finance the development of urban rehabilitation and social housing projects with a focus on vulnerable populations. It is estimated that the financing will benefit about 7 thousand families per year.

IDB Invest advised Los Portales in the design of the methodological framework for the use of the social bond funds. The framework of this social bond received a favorable second party opinion from the risk rating agency Moody’s.