Mexican residential real estate company Vinte Viviendas Integrales plans to raise MXN1.5 billion ($86.7 million) in a sustainable bond sale in the local market, according to a report from HR Ratings.
Vinte expects to price the 5-year note at the TIIE interbank lending rate and will use the proceeds to finance projects including the development of sustainable communities, the report said.
The bond sale is part of a MXN5 billion program, said the agency, which rates the issue HR AA- with a stable outlook, it said.
IDB Invest, the private sector arm of the Inter-American Development Bank, recently said it is considering investing up to MXN750 million to spur Vinte’s sustainable low-income housing program.