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SubscribeCuatrecasas has advised banks BNP Paribas and Goldman Sachs, as initial purchasers in the international placement of a USD 600 million green bond issued by the District Capital of Bogotá. This highly demanded transaction represents a milestone for the city, consolidating investor confidence in the District’s public finances and its commitment to sustainable growth.
The transaction gives the city access to resources from the competitive global capital market under Rule 144A/Regulation S. It sets a benchmark for future sovereign and subnational bond issuances in Latin America, while reflecting the District’s credit strength.
Manuel Quinche, managing partner of Cuatrecasas’ Bogotá office, commented on the transaction: “This transaction marks a milestone for Bogotá’s green development and sustainable growth, as it consolidates international investor confidence in the District and reinforces Colombian public entities’ access to capital markets around the world.”
The resources obtained will be used to finance green projects that are part of the District's sustainable development policies, with the aim of boosting clean mobility initiatives, circular economy, sustainable management of natural resources and energy efficiency.
Natalia Arango, partner in the Cuatrecasas Bogotá Finance Practice, added: “We are proud to have assisted BNP Paribas and Goldman Sachs on this bond issuance that directly contributes to financing projects with a positive environmental impact. Bogotá has consolidated itself as a benchmark for the whole country and region in sovereign and subnational green bond issuances.”
The Cuatrecasas team advising on the transaction was led by partners Manuel Quinche and Natalia Arango, together with lawyers Valentina Bocanegra (Finance); Manuel Gómez, Felipe Bayona and Carlos Méndez (Public Law); Alberto Zuleta, María Fernanda Díaz and Valentina Salazar (Litigation and Arbitration); and Jaime Vargas, Ariana Fernández and Oswaldo Pacheco (Tax).Don’t miss our content
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