Bancolombia issues sustainable and green bonds.

The Bancolombia Group announces that it successfully issued and placed its first issue of sustainable and green bonds in the amount of $657 billion. This issuance has a period of 5 years and at an IBR rate + 1.60 NMV. Acquired in its entirety by IDB Invest. IDB Invest is the private sector bank of the Inter-American Development Bank (IDB) Group with a presence in more than 25 countries whose objective is to promote sustainable policies.

These resources will be used to finance projects that the entity has accompanied since its structuring. And that follow the international standards set in the principles of green bonds. Therefore, its focus will be projects classified as environmental or green, focused on sustainable construction, energy efficiency and cleaner production. These projects focused on basic infrastructure, social and housing of social interest.

The Bancolombia Group completed three emissions, between green and sustainable bonds. All of them add up to a total amount of $1.3 billion, which aims to contribute to the sustainability of the country, to benefit Colombians and the territories where it has a presence. In this regard, Bancolombia’s Chief Financial Officer José Humberto Acosta said that with today’s, sustainable bond issuances during 2019 have already ended, but new issues are expected in the coming years.

“We have $2 trillion that we’re going to put into sustainable, green bonds over the next few years. We will also look for alternatives with the local and multilateral market to continue to drive such initiatives,” he said.