BYMA new trading segment will include Debt Securities destined to finance projects contributing to positive environmental and/or social outcomes.
BYMA is the first Exchange launching a Social, Green and Sustainability Bonds (SGS) Trading Panel in Argentina. It will be composed by Debt Securities destined to finance projects contributing to positive environmental and/or social outcomes.
BYMA is the first Exchange launching a Social, Green and Sustainability Bonds (SGS) Trading Panel in Argentina. It will be composed by Debt Securities destined to finance projects contributing to positive environmental and/or social outcomes.
SGS Bond issuers shall meet the requirements set forth by BYMA Listing Rules and BYMA RULES on SGS Bonds.
Proceeds will be exclusively applied to finance or re-finance, in part or in full, categories of eligible green projects, e.g. focused on renewable energy, biodiversity conservation, etc., or categories of eligible social projects, e.g. focused on affordable basic infrastructure (clean drinking water, sewers, sanitation, etc.), access to basic services (health, healthcare, financing and financial services) and job creation. Sustainability Bonds are a combination of both.
Issuers shall submit an “External Review” to provide for credibility and certainty to investors on the projects` social and/or environmental impacts. Added to this, issuers shall also meet ongoing reporting rules and draft use of proceeds reports and/or tracking performance reports on the initially projected social/environmental benefits.
To this respect, Ernesto Allaria, BYMA President, said: “BYMA trading panel is aligned with the initiatives of the Major Exchanges of the world, with the National Securities Commission Regulations and with International Standards. This new trading segment aims to foster green financing and contribute to the Sustainable Development Goals.”
SGS Bonds will be traded on current trading systems for the pertinent security. Further information on SGS Bonds issuance, ongoing reports and tracking performance is available on BYMA website.
Finally, Ernesto Allaria added: “Last December we`ve launched BYMA Corporate Governance Panel and the Sustainability Index focused on stocks; today, we are pleased to offer the first fixed rate sustainable product, which let us exponentially enlarge our scope of commitment in this aspect”.
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