H&Cía and M&A counsel on MiVivienda social bonds issue
Hernández & Cía. has counselled Fondo MiVivienda in the placement of S/ 135’000,000.00 (approximately USD 36MM) in social bonds in the First Issue of the Second Corporate Bond Program of Fondo MIVIVIENDA.
The issue, closed on 31 July, was structured by Banco BBVA Peru, advised by Miranda & Amado.
The offer was aimed exclusively at institutional investors and the demand for these social bonds was S/ 184’045,000.00 (USD 49MM approximately). In this case, the social bonds are debt instruments whose proceeds will be applied to finance certain social housing projects, in accordance with the issuance documents.
This was the first local issuance of ‘Bonos Sociales’ by Fondo MiVivienda. The issue was qualified as such thanks to a Second Party opinion that validated that the funds to be raised under this issue would be used by FMV to finance projects that qualify as eligible social projects as set out in FMV’s sustainable financing framework, which is aligned to the social bond principles issued by the International Capital Markets Association in 2021.
Fondo MiVivienda is an entity that promotes access to adequate housing in the Republic of Peru.
H&Cía’s team included partner Juan Luis Hernández (pictured left), senior associate Erick Calla, and associate Rafaela Chumpitazi.
M&A’s team comprised partner Álvaro Del Valle (pictured right) and associates Gabriel Boucher and María Fernanda Lazo.