IDB Invest supports Salaverry Terminal Internacional with first A/B Bond in Peru

Salaverry Terminal Internacional (STI), concessionaire of the Salaverry port terminal that operates more than 3.5 million tons of cargo north of the city of Lima, has received the support of IDB Invest as an anchor investor in the first A/B bond in Peru. This is the longest term private bond placement in Peru to date.

IDB Invest will provide a first tranche of US$50 million and institutional investors will provide US$65 million in a second tranche. The A/B bond has a value of $115 million and consists of an A loan and a 20-year B bond.

The funds will be used for the long-term refinancing of part of the modernization of the multipurpose port terminal. The long-term financing will increase traffic volume, facilitate access to international trade, and reduce logistics costs, thereby strengthening the region’s competitiveness.

IDB Invest will also contribute to improving sustainability in the project through compliance with Environmental and Social Standards (E&S Standards). In addition, it will provide technical assistance to ITS to improve gender equality in its human resources policies. The project is expected to have a positive impact on the Sustainable Development Goals (SDGs) of Decent Work and Economic Growth (SDG 8) and Responsible Consumption and Production (SDG 12).