Company name
Trinidad and Tobago Mortgage Bank Limited
Project number
15131-01
FI-3 operations are those where the risk potential is considered low: the FI’s current or future portfolio consists of financial exposure to business activities that predominantly have minimal or no adverse environmental and social impacts.
E&S category
FI-3
Country
Trinidad and Tobago
Sector
Financial Institutions
Status
In implementation
Disclosed date
10/15/2024
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
11/25/2024
Approval date
11/25/2024
Signed date
12/20/2024
Sponsoring entity
N/A
Investment Operations Department Contact
Financial Institutions Division
Investment type
Syndicated amount
N/A
Financing amount
USD $ 81,155,700
Currency
TTD
Project scope and objective
The proposed transaction with Trinidad and Tobago Mortgage Bank (“TTMB” or the “Bank”) consists of a senior secured bond financing of up to TTD550 million with a tenor of up to five years, to be funded by IDB Invest and co-investors.
The use of funds will support TTMB in providing affordable residential mortgage financing in Trinidad and Tobago. As a non-deposit taking institution, TTMB relies primarily on intermediate tenor loans and debt capital markets instruments to fund its lending operations.
Additionally, this will be the first social bond issuance to be offered to investors in the local capital markets. The impact of the captioned issuance should encourage the participation and knowledge building capacity of investors towards sustainable bonds.
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Contact information
For inquiries, comments and information requests about the project
Request informationAlternatively, you may also use the following contact information :
Client Contact
laurette.walker@ttmortgagebank.com
PHONE NUMBER
1-868-625-8863, Ext. 2100
POST OFFICE ADDRESS
Albion Court, 61 Dundonald Street, P.O. Box 1096, Port of Spain - Trinidad and Tobago
IDB Invest Contact
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
IDB Invest Country OfficesIndividuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing mgm@iadb.org or by calling +1 202 312 4040.
As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing to mecanismo@iadb.org or MICI@iadb.org or calling +1(202) 623-3952.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
Early disclosure
2TT MORTGAGE BANK-SOCIAL BOND WITH A GENDER FOCUS-15131-01-TT-ENVIRONMENTAL AND SOCIAL REVIEW ESRS ABS
112.6 Kb