IBEC bought "social" bonds of Sovcombank
International Bank for Economic Co-operation has acquired a package of four-year bonds of Sovcombank. The placement of the USD 300 million issue took place with the participation of HSBC, J.P. Morgan, ING, SberCIB, VTB Capital, Gazprombank, Unicredit Emirated NDB Capital, Renaissance Capital, Sova Capital.
The funds were raised to support the Halva project implemented by Sovcombank – a system of installment payments for goods and services. The project is of great social importance, and the issued bonds received Social Bond status according to the qualifications of the International Capital Markets Association (ICMA). According to the ICMA principles, funds raised through the issuance of such securities should be directed to the implementation of projects aimed at improving the social environment, quality of life, environmental protection, and achieving Sustainable Development Goals.
IBEC regularly replenishes its portfolio with socially oriented securities. With high quality and reliability, such investments comply with the strategic goals of IBEC and contribute to the development and implementation of socially significant projects in the territory of the Bank's member countries.