Vigeo Eiris, Second Party Opinion of the first Social Bond of Los Heroes, the first Chilean family allowance fund to carry out this type of operation
Worth USD 40 million and with a maturity of 6 years, this "Social Bond" bond will finance or refinance social consumer credits aiming at financial inclusion.
Los Heroes is a “Caja de Compensación de Asignación Familiar (CCFA)”, i. e. the equivalent of the family allowance funds. These structures are non-profit private companies with their own assets and they are part of Chile’s social security system. The CCFA’s mission is to administer the social security benefits of its members.
With this operation, Los Heroes reaffirms its commitment to responsible and sustainable corporate management, in line with the UN’s sustainable development objectives (SDOs).
Indeed, opting for this type of financing reflects Los Heroes’ desire to establish their social role and the positive impact of financial inclusion.
(Financial inclusion is defined as low-cost basic financial and banking services and products for consumers in difficulty and de facto excluded from traditional services.)
Vigeo Eiris has been mandated to deliver a Second Party Opinion on the degree to which social impacts and sustainability factors are taken into account in the design and management of the bond and its contribution to development.
More information on Los Heroes’ website
Access Vigeo Eiris’ second party opinion