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The proposed investment (the Project) involves the subscription of a 3-year senior bond divided in two series (being one green and other social) issued by Itaú Unibanco Holding S.A., acting through its Grand Cayman Branch (IUH or the Bank) under its Global Medium-Term Note Programme (MTN). The bond was privately placed and listed on the Luxembourg Stock Exchange. The total issuance amount was US$250 million, with IFC subscribing US$200 million and mobilizing IDB Invest to subscribe an additional US$50 million. The bond was additionally issued under Itaú's Sustainability Finance Framework, supporting the Bank's lending program for biodiversity projects related to the Reverte Program and Small and Medium Enterprises (SMEs), with a carve out to support SMEs in Rio Grande do Sul to aid in the disaster recovery in the state.
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