CADU Inmobiliaria announces its first green bond in BIVA

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.