Finandina bank placed green bonds on the Colombian Stock Exchange for $127.976 million, although it received a total demand for $264.756 million.
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In the 36-month subseries, $47,121 million were placed at an effective annual rate of 10.6%, although market demand reached $178,401 million.
In the 24-month subseries at an IBR rate plus 3.45% nominal month in arrears, $80,855 million were placed, although the demand reached $86,355 million.
These bonds were placed in order to finance eligible sustainable transportation projects (credits earmarked for the acquisition of electric vehicles, hybrids, operated with hydrogen or efficient technologies of last generation that guarantee the mitigation of the carbon footprint).
(With green TES, $1.4 billion have been placed).
“With this mechanism, we seek to promote the use of vehicles with efficient energies, electric cars, hybrids or those that have a combustion that mitigates the carbon footprint and contributes to this social commitment that Finandina has as a BIC entity, consistent in its model of business in generating triple impact actions that contribute to the community, the environment and the economy”said Orlando Forero Gómez, General Manager of Banco Finandina BIC.
This is Finandina BIC’s first issuance with a green bond and will be the prelude to issuing social and sustainable bonds in the future, in order to provide resources for vulnerable populations and segments or for economic development.
Titles have AA+ credit risk rating by BRC Standard & Poor’s.
(Colombia stands out as a leader in green finance in Latin America).
Green Bonds have boomed in recent years, it is expected that these instruments will have a boom in the market, given the world’s commitment to mitigate the impact of the carbon footprint on global warming.
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