Symbiotics Launches $10,5M Social Bond With La Hipotecaria Colombia
Symbiotics, the leading market access platform for impact investing, has arranged its first Social Bond to be used for affordable housing and associated household financing, by means of a loan in local currency of COP 35,8 billion ($10,5 million) for La Hipotecaria Compañía de Financiamiento (“La Hipotecaria”).
The proceeds of the Social Bond will be used to finance access to financing services, with its eligible subcategories: affordable housing and household financing. This is in line with the Colombian government’s affordable housing programs to support vulnerable and low-income families. This social bond will be used to finance beneficiaries of those programs and their household financing needs.