VS Bonds
BYMA developed a regulationand a guide for the Issuance and Listing of Sustainability-Linked Bonds (VS). This is the first panel of Sustainability Linked Bonds (VS Bonds) in the Argentine market, integrated by Negotiable Obligations and Public Securities.
BYMA will give visibility to the VS Bonds in a specific Panel and, subsequently, they may be transacted in the same systems that the Market provides for the trading of the different negotiable securities.
This initiative, carried out by BYMA in conjunction with the Buenos Aires Stock Exchange, seeks to provide the market with a new form of financing by encouraging companies and entities to contribute to sustainability from an environmental, social and/or governance perspective.
Features of VS Bonds
Sustainability-Linked Bonds are bonds whose financial and structural characteristics may vary depending on whether the issuer achieves certain sustainability targets within a predefined timeline. Unlike SVS bonds, the proceeds of the issue are not linked to eligible social and/or green projects, but to general purposes of the issuer.
The issuers explicitly commit to future improvements in their sustainability performance within a previously delimited timeline. Targets are measured through key performance indicators ("KPIs") and assessed against established sustainability performance targets ("SPTs").
The requirements set forth in the Listing Regulations and, additionally, those required in the Sustainability-Linked Bonds Regulations must be met. In turn, an External Review confirming the alignment of the Bond with ICMA's Sustainability-Linked Bond Principles must be in place.
List of bonds issued
| Issue Date | Emitter Species | Monto | Adicional | Pre - Issue | Result Notice | Post - Issue |
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Learn more about ESG products
BYMA promotes the conditions for sustainable finance in the Argentine market through developments and products, and carries out sustainable actions both internally and externally.
Corporate Governance Panel
Integrated by BYMA-listed issuers that voluntarily adopt Corporate Governance practices.
Sustainability Index
In partnership with the IDB, LSEG Data & Analytics and the Earth Institute at Columbia University.
Social, Green and Sustainable Bonds Panel
Integrated by Negotiable Securities whose funds must be destined to finance or refinance projects with social and environmental benefits.
Sustainability-Linked Bond Panel
Bonds whose financial characteristics may vary depending on whether the issuer achieves sustainability or ESG objectives within a predefined timeline.
