Banistmo Social Bond with a Gender Focus (IDBI-12174-02)

Countries
  • Panama
Where the impacts of the investment may be experienced.
Financial Institutions
  • IDB Invest
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jul 3, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Banistmo S.A.
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 30.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 30.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 30.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IDBI website

Updated in EWS Jun 10, 2019

Disclosed by Bank Jun 3, 2019


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Project Description

The project consists in the subscription of the first Social Bond with a Gender focus, to be issued by Banistmo S.A. ("Banistmo") in the local market (private placement) for up to US$30 million, bullet, in a maximum five-year term. The proceeds will be used to finance projects with high positive social impact in the country, focus on women-led small and medium enterprises ("SMEs"). In order to validate the Bond as a Social Bond with a gender focus, the issuance will be certified by a third party -an independent consultant-, validating the emission at the local market and increasing impact investor's interest for the Bond. The Bond issuance (private placement) will be aligned with the Sustainable Development Goals ("SDGs") and the Social Bond Principles ("SBP") and will be the first one not only in Panama but also in Latin America.

Investment Description
  • IDB Invest
Private Actors
Contact Information

Client Contact Name: Jessica Chen Wong
Title: Head of International Banking
Email:
jessica.chen@banistmo.com
Telephone: (507) 321-7239

For project inquires, including environmental and social questions related to an IDB Invest investment, please contact the client (see Investment Summary sheet) or IDB Invest via email at: divulgacionpublica@iadb.org. As a last resort, project affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by email – mecanismo@iadb.org or MICI@iadb.org – or by calling +1 (202) 623-3952.