The transaction consists of an issuance of a Subordinated Sustainable Bond for an amount of up to US$15 million for a term of 10 years. The transaction seeks to confirm BBVA Uruguay's capital structure through the injection of TIER II and strengthen its sustainable portfolio. This will be the first thematic issue by a Uruguayan bank and will use the funds for energy efficiency projects, sustainable agriculture, sustainable construction, housing, development of the Small and Medium-Sized Enterprise ("SME") segment in Uruguay, among others. Additionally, IDB Invest will support the entity through Advisory Services for: (i) segmentation of the sustainable portfolio; (ii) structuring the Framework of the Bond Issuance; (iii) hiring an independent third-party to issue the Second Opinion. The issuance is expected to contribute to the achievement of the United Nations General AssemblySustainable Development Goals("SDGs") (SDGs 5,7,8,9, and 11, principally) and to the development of the Uruguayan capital market.
Client Contact Name: Eduardo O'Neill
Title: Financial Manager
Telephone: +598 2916 1444 Ext. 6335
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ACCOUNTABILITY MECHANISM OF IDB / IDB INVEST
The Independent Consultation and Investigation Mechanism (MICI) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an Inter-American Development Bank (IDB) or Inter-American Investment Corporation (IDB Invest)-funded project. If you submit a complaint to MICI, they may assist you in addressing the problems you raised through a dispute-resolution process with those implementing the project and/or through an investigation to assess whether the IDB or IDB Invest is following its own policies for preventing or mitigating harm to people or the environment. You can submit a complaint by sending an email to MICI@iadb.org. You can learn more about the MICI and how to file a complaint at http://www.iadb.org/en/mici/mici,1752.html (in English) or http://www.iadb.org/es/mici/mici,1752.html (Spanish).