By Devika Patel
Knoxville, Tenn., April 28 – Banco Davivienda SA said it sold COP$433 billion, or about $150 million, of 10-year green bonds to International Finance Corp. on April 25.
The notes accrue interest at the interbank rate plus 213 basis points.
This is the largest green bond issue by a private financial institution in Latin America.
Proceeds will be used to finance projects in the areas of sustainable construction, cleaner production, energy efficiency and renewable energies (water, biomass, wind and photovoltaic solar energy).
Davivienda is a lender based in Bogota, Colombia.
| Issuer: | Banco Davivienda SA
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| Amount: | COP$433 billion
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| Description: | Green bonds
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| Maturity: | 10 years
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| Coupon: | Interbank rate plus 213 bps
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| Investor: | International Finance Corp.
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| Settlement date: | April 25
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