Hunton Andrews Kurth Advises IDB Invest on First-of-its-Kind Subscription of Gender-Focused Social Bond Issued by Banco Davivienda S.A.

On August 27, 2020, Inter-American Investment Corporation (“IDB Invest”) subscribed a USD$100 million equivalent gender-focused social bond issued by Banco Davivienda S.A (“Davivienda”) in Colombia. The proceeds from the bond placement will be used by Davivienda to fund the growth of women led/owned small and medium-sized enterprises in Colombia. This is the first gender-focused social bond in South America aligned with international standards and the first deal in Colombia that is part of the Women Entrepreneurs Financing Initiative (We-Fi), an international alliance that gives women-led companies access to financing and the capital markets. The financing also constitutes the world’s first gender-focused social bond granting a bonus disbursement based on the achievement of certain outcomes by the issuer.

The US-based firm of Hunton Andrews Kurth LLP advised IDB Invest as international counsel. Colombian legal advice to IDB Invest was provided by Gómez-Pinzón Abogados.

Hunton Andrews Kurth Lawyers:

• Alejandro Silva, International Counsel
• Yasmina Hammoumi Santaella, International Associate

IDB Invest In-house Counsel:

• Ofelia Díaz

Gómez-Pinzón Abogados Lawyers:

• Daniel Londoño, Partner
• Catalina Prieto, Senior Associate
• Santiago Ariza, Associate