Colombia
Cuatrecasas advises Grupo Energía Bogotá on issuing sustainability-linked bonds on the international capital market for USD 400 million
November 27, 2023
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SubscribeCuatrecasas has advised Grupo Energía Bogotá (GEB) on structuring a sustainability-linked bond issuance on the international capital market for USD 400 million. With this transaction, GEB became the first Colombian company to issue a sustainability-linked bond in dollars on the international capital market.
The funds obtained will be invested in GEB’s plan for energy transmission infrastructure, in line with its commitment to energy transition. They will also be invested in social projects in the company’s areas of influence in Colombia, contributing to initiatives for empowerment, access to essential services, and socioeconomic progress in general.
The transaction will enable GEB to strengthen its sustainability strategy that—aligned with the principles and taxonomies of the international market—contributes to the energy transition, climate change mitigation and adaptation, and closing social gaps.
In addition, the issuance ratifies the international market trust in the company: first, demand was 2.8 times in excess of the projected resources for the transaction; second, it achieved an interest rate below Colombia’s yield curve; and third, it involved almost 100 investors from the United States, Europe, Asia and South America.
The Cuatrecasas advisory team was led by our managing partner of the Bogotá office, Manuel Quinche, and lawyers Natalia Arango, Fabio Ardila, Laura Salazar and Emilio Torres.
November 27, 2023
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