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According to the IDB Invest, the new project involves financing of up to the equivalent of US$50 million in Peruvian soles (PEN), structured in three tranches, two of which are directed to its subsidiaryLos Portales Departamentos S.A.C.Tranche Iconsists of a Committed Working Capital Line of up to the equivalent of US$20 million in PEN, intended for land acquisition and development of apartment projects with green certification, focused on middle-income socioeconomic segments (B and C).Tranche IIis a Committed Senior Loan of up to the equivalent of US$20 million in PEN for urban development and construction of social housing, primarily targeting middle- and low-income segments (C, D, and E). Finally,Tranche IIIis an Uncommitted Working Capital Line of up to the equivalent of US$10 million in PEN, with a similar use to Tranche I. This financing reinforces Los Portales' commitment to sustainable and affordable housing access in Peru, contributing to improved quality of life for thousands of families.
According to the IADB, Los Portales S.A. ("Los Portales") is one of Peru's leading companies in urban development and social housing. With a long track record in the sector, the company has established itself as a key player in reducing the housing deficit in the country, especially in middle- and low-income segments. This transaction marks Los Portales' third collaboration with IDB Invest, which includes the issuance of a social bond in 2022.
Private Actor 1 | Private Actor 1 Role | Private Actor 1 Sector | Relation | Private Actor 2 | Private Actor 2 Role | Private Actor 2 Sector |
---|---|---|---|---|---|---|
- | - | - | - | Los Portales S.A. | Client | - |
EMAIL: [email protected]
PHONE: +1(202)-566-4566
ADDRESS: 1350 New York Ave NW, Washington, DC 20005
ACCESS TO INFORMATION
You can submit a request for information disclosure at: https://www.iadb.org/en/access-information/information-request
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).