• Promotes the construction of low- and mid-income social housing across the country
• Strengthens the development of Mexico’s capital market

IDB Invest, the private sector institution of the Inter-American Development Bank (IDB) Group, strengthens its relationship with Vinte Viviendas Intregrales S.A.B. of C.V. (Vinte) and provides a partial credit guarantee (PCG) for up to MXN250 million for the Vinte 18X bond.

The operation provides continued support for the promotion, construction and commercialization of low-and mid-income housing in several states across Mexico. In addition, IDB Invest’s PCG reinforces the development of the Mexican capital market.

The Vinte 18X bond issuance is the first placement of a sustainable bond made by a housing developer in Latin America. The certification of the bond has been validated by Sustainalytics, one of the most recognized companies worldwide for this type of validation. For Sustainalytics, Vinte incorporates sustainable development as part of its commercial activities through the development of housing projects that provide positive social and environmental impacts for communities.

The bond issuance and the PCG have a tenor of seven years. With IDB Invest’s guarantee, Vinte has raised the credit rating of the issuance in Mexico, going from A+ local and BB+ global to AA+ local by HR Ratings and Verum, and BBB+ global by HR Ratings, achieving an international rating of investment grade by HR Rating.

According to data from the Bank of Mexico, the housing sector comprises roughly 14 percent of the country's GDP and according to a Moody's report, the housing sector will grow to 18 percent in 2018. Vinte currently estimates it will build 35,000 sustainable homes in the next seven years.

About IDB Invest

IDB Invest, the private sector institution of the Inter-American Development Bank (IDB) Group, is a multilateral development bank committed to supporting Latin America and the Caribbean businesses. It finances sustainable enterprises and projects to achieve financial results that maximize economic, social and environmental development for the region. With a current portfolio of US$11.2 billion under management and 330 clients in 23 countries, IDB Invest works across sectors to provide innovative financial solutions and advisory services that meet the evolving demands of its clients. As of November 2017, IDB Invest is the trade name of the Inter-American Investment Corporation.

About  Vinte

Vinte is a vertically integrated Mexican real estate company with a clear focus on profitability. For more than 15 years, it has been dedicated to developing sustainable housing for social, middle and residential income families, focusing solidly on improving their quality of life; work for which has obtained multiple national and international recognitions. During its history it has developed more than 35,000 homes in five Mexican states, mainly in the center of the country; achieved a high level of loyalty among its customers and extensive brand recognition in the places it operates. Vinte has a highly qualified management team, with more than 26 years of experience in the housing sector in Mexico.