San Antonio, Texas – The North American Development Bank (NADBank) has provided financing for $820.8 million pesos to Vinte Viviendas Integrales, S.A.B. de S.V. (Vinte) through the issuance of a sustainability bond to support the construction of efficient and sustainable housing in the northern border region of Mexico. The homes will be built using construction techniques and equipment to achieve at least a 20% reduction in water and energy use.
The financing was made in the form of long-term bonds through a private offering in Mexico on February 26th. The proceeds of the bond are expected to finance around 720 efficient homes for low, middle and medium-high income families, mainly in the metropolitan area of Monterrey, Nuevo Leon, and Tijuana, Baja California, for the benefit of around 2,400 residents.
“We congratulate Vinte for placing this bond issue, which will support the development of sustainable communities in metropolitan areas along the northern border of Mexico,” said NADBank Managing Director John Beckham. In this regard, he added that “for the Bank, partnering on this project marks a significant milestone as the sustainable homes will be built in housing developments that, in addition to using materials and equipment to promote the conservation of critical resources such as water and energy, will also include equipped parks and recreational areas, connectivity services and proximity to schools, health centers and police stations to provide a better quality of life for its residents.”
The houses will be built in accordance with a Sustainability Bond Framework developed jointly by Vinte and NADBank and will obtain Excellence in Design for Greater Efficiencies (EDGE) certification, which is focused on making residential and commercial buildings more resource efficient.
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NADBank is a financial institution established and capitalized in equal parts by the United States and Mexico for the purpose of financing environmental infrastructure projects along their common border. As a pioneer institution in its field, the Bank is working to develop environmentally and financially sustainable projects with broad community support in a framework of close cooperation and coordination between Mexico and the United States. For more information about NADBank, visit www.nadb.org.