The Bancolombia Group announces that it successfully issued and placed its first issue of green and sustainable
bonds in the amount of $657 billion. This issue has a term of 5 years and a rate of IBR + 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 presence in more than 25 countries whose strategic objectives
are to promote sustainable policies.
Destination of the proceeds from green and sustainable bonds
These resources will be used to finance projects that the entity has accompanied since their structuring. And that follow the international standards established in the green bond principles. Therefore, its focus will be projects classified as environmental or green, focused on sustainability 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 billion that we are going to place in sustainable and green bonds over the next few years. We will also look for alternatives with local and multilateral market strategies to continue promoting this type of initiative,” he said.
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