Goméz-Pinzón counsels on gender-focused social bonds issuance

Goméz-Pinzón has advised Inter-American Investment Corporation on gender-focused social bonds issuance

Gomez-Pinzón Abogados acted as local legal counsel for the Inter-American Investment Corporation (IDB Invest) on a gender-focused social bonds issuance. The Inter-American Development Bank (IDB), acting through IDB Invest as an agent, subscribed $41 millions of the gender-focused social bonds issued by Banco W S.A. in the Colombian second market (segundo mercado) with a four (4) year maturity.

The issuer will use the proceeds of the bonds to finance the growth of its portfolio of micro-enterprises led by women. This is the first gender-focused social bond in the region issued by a bank dedicated to microfinance.

This is the second subscription of social bonds with a gender focus advised by Gómez-Pinzón, preceded by the subscription of the bonds issued by Banco Davivienda S.A. in August 2020 for COP $362.5 billion.

Gómez-Pinzón team was led by partner Daniel Londoño (pictured), and involved senior associate Catalina Prieto, and associates Santiago Ariza and Laura Villarreal.

IDB Invest’s in-house counsel who assisted on the operation was Ofelia Díaz.