IDB Invest and Vinte Support Mexico's Housing Sector with Sustainable Bond
- IDB Invest acted as anchor investor in Vinte’s largest sustainable bonds placement in Mexico
- The project will allow Vinte to build nearly 3,700 green and affordable homes
IDB Invest participated as an anchor investor for $750 million Mexican pesos (approximately $43 million) in the placement of a five-year sustainable bond valued at $1.5 billion Mexican pesos (approximately $87 million) issued by Vinte, one of the leading companies in the housing industry in Mexico. The bond proceeds will go toward promoting sustainable and affordable housing in the country.
This is IDB Invest’s first time participating as an anchor investor in Mexico, which is the largest bond placement carried out by Vinte. The project is expected to finance the construction of nearly 3,700 green-certified homes, saving an estimated 157,000 square meters of water and 2,400 tons of CO2 annually.
Globally, Vinte is the developer with the largest number of homes certified by EDGE, a sustainable construction certification system, with a total 10,003 homes certified through 2022. With this financing Vinte is increasing its EDGE home certification objective presented at COP26 from 10,500 to more than 16,000 homes certified by 2024.
Additionally, the project will focus on housing aimed at low- and medium-income families, ensuring that more than 40% of the homes to be built by Vinte are affordable for these two segments, thus promoting the development of sustainable communities and supporting Vinte's value chain in Mexico.
The issuance of the sustainable bond is aligned with Vinte’s Sustainable Bond Reference Framework and with the of the United Nations Development Program (UNDP)’s SDG Impact standards for Sustainable Development Goals (SDG).
IDB Invest has worked with Vinte as a strategic partner since 2012. In 2018, IDB Invest provided a partial credit guarantee to the company to support its first sustainable bond issuance. IDB Invest now seeks to continue its relationship as an anchor investor, providing certainty to the market and attracting impact investors in a challenging environment.
This project is expected to contribute to the following United Nations Sustainable Development Goals (SDGs): End Poverty (SDG 1), Decent Work and Economic Growth (SDG 8), Industry, Innovation and Infrastructure (SDG 9), Sustainable Cities and Communities (SDG 11) and Climate Action (SDG 13).
About IDB Invest
IDB Invest, a member of the Inter-American Development Bank Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of $16.3 billion in assets under management and 394 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries.
Vinte is a sustainable, vertically integrated Mexican real estate company with a clear focus on profitability. For more than 20 years, it has been dedicated to developing sustainable housing complexes for social, middle- and residential-income families, focusing on improving their quality of life, and has obtained multiple national and international recognitions. To date, it has developed more than 56,000 homes in six states of Mexico, mainly in the center of the country, and it has achieved a high level of loyalty among its customers and broad brand recognition in the places in which it operates. Vinte began its digital strategy since 2017 focused on Proptech with more than 5,000 homes marketed through digital media and 36% of total sales in the last 12 months. Vinte has a highly qualified management team, with more than 31 years of experience in the housing sector in Mexico.