Hunton Andrews Kurth LLP represented the Inter-American Investment Corporation (IDB Invest) and Corporación Financiera de Desarrollo S.A. (COFIDE) as New York counsel in their subscription of $100 million in Series A Bonds issued by BBVA Perú. This transaction, which closed on January 31, 2025, represents the first tranche of a planned $200 million social bond issuance.

The proceeds of the bonds will be used to fund loans supporting BBVA Perú's initiative to promote financial inclusion for women-owned micro and small enterprises. IDB Invest, a multilateral development institution focused on private sector financing in Latin America and the Caribbean, subscribed $75 million of the bonds. COFIDE, the Peruvian development finance institution, subscribed $25 million. The bonds will have a term of up to five years.

The Hunton team advising IDB Invest and COFIDE was led by Alejandro Silva, international counsel, and included Gustavo Rodriguez-Villate, associate. Diana Bogotá served as IDB Invest’s In-House Counsel.

Other legal counsel involved in the transaction included:

• Allen & Overy Shearman Sterling LLP, as New York counsel to BBVA Perú.
• Miranda & Amado Abogados, as local counsel to BBVA Perú.
• Rodrigo Elías & Medrano Abogados, as local counsel to IDB Invest and COFIDE.