BYMA incorporates a new social bond in the SVS Bond Panel

BYMA incorporates a new Negotiable Obligation of TECHO labeled as Social in its Panel of Social, Green and Sustainable Bonds, the Panel integrated by negotiable securities that entail a positive environmental and/or social impact.the objective of this instrument is framed within the qualification of Social Projectas required by BYMA and, will have as its objective the construction of a new Social Factory (FS). The funds obtained from the placement will be used to defray the costs of the development of the factory, which will be used to offer housing solutions that will mitigate the current habitat conditions of the target population. TECHO is a civil association established in 2003 in the city of Córdoba, where it has its administrative headquarters. Its main activity is dedicated to improving the quality of life of those most in need through the promotion, management and advice of projects for the development of housing programs.The issuer has a "Social" rating, prepared by an External Reviewer and aligned with the four components of ICMA's Social Bond Principles: use of resources, for the construction of housing in this case; process for the evaluation and selection of projects; administration of funds; and reporting until the total allocation of resources.In this regard, TECHO will include a summary report on the social benefits achieved by the eligible project and a report on the indicator: number of emergency housing units built as a result of rental savings. In other words, a set of information and quantitative indicators that will make it possible to clearly determine the positive social impact and/or the mitigation of the social problem that will result from the PFS.

‍BYMA's president, Ernesto Allaria, explained: "We are proud of the incorporation of a Negotiable Obligation from a civil association such as TECHO to BYMA's SVS Panel. This novelty reflects the growing interest of local issuers in sustainability. We will continue working to create the conditions that promote a growing positive social impact in Argentina."

‍"The successful placement of Techo is the result of many hours of work and commitment of people who are convinced that with a clear objective, the public and private sector can overcome obstacles that sometimes seem insurmountable. The objective here is for financing to reach issuers such as Techo, which is the first Civil Association to meet the Social Bond requirements. A milestone in the capital market. There is a volunteer Agenda that, within the framework of the CNV-UNDP Agreement and Laboratory, grows every week so that this gains scale and sustainability. A thank you to all those who believed, a year ago, that this would be possible", commented Mónica Erpen, director of the CNV.

‍What is the situation of SVS Bonds in Argentina?

With the incorporation of TECHO's ON, BYMA's SVS Panel is composed of 2 issuers that have labeled marketable securities as green, 5 as social and 2 as sustainable. It should be noted that the last incorporation of a Negotiable Obligation labeled as Social to the Panel took place in September, and it was of the company SION, which belongs to the Telecommunications sector. In this case, the project was focused on generating impact in two aspects: with the construction of new access networks and/or adaptation of the same; and with the effects of the target population determining a positive social impact.In broader terms of sustainability, 5 issuers are already part of BYMA's Corporate Governance Panel. In turn, the Sustainability Index already has 3 rebalances at a local level.

These types of developments promote the creation of conditions for the entire ecosystem to evolve in terms of sustainability.

More information about the SVS Bond Panel