Hunton Andrews Kurth Represents IDB Invest in Subscription for a $30 Million Bond Issued by Banco de Inversión y Comercio Exterior, S.A.

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December 7, 2018
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On December 7, 2018, Inter-American Investment Corporation, in its own capacity and as agent for the Inter-American Development Bank (“IDB Invest”), subscribed for a $30 million sustainable bond issued by Banco de Inversión y Comercio Exterior, S.A., a financial institution organized and existing under the laws of Argentina (“Banco Bice”). The bond issuance qualifies as Argentina’s first sustainable bond issuance in the local capital markets.

The bond proceeds will be used by Banco Bice to support the origination of eligible loans to finance women-led enterprises, enterprises to support the development in the north of Argentina, investments in notes issued by small and medium-sized enterprises, software, small and medium-sized enterprises with a measurable impact in job creation and environmentally friendly projects (i.e., solar, wind, biomass, biogas and mini-hydro and energy efficiency).

The U.S.-based firm of Hunton Andrews Kurth LLP advised IDB Invest as international counsel on matters of New York law. Argentine legal advice to IDB Invest was provided by Nicholson y Cano Abogados.

Hunton Andrews Kurth Lawyers:

Eric Markus, Partner

IDB Invest’s In-house Counsel:

Maria Lucia Abreu
Ignacio Rodriguez
Andrea Patricia Alba Molina

Nicholson y Cano Abogados:

Mariano Fabrizio, Partner
Marcelo Villegas, Partner
Gonzalo Rivas Orozco, Associate

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