Holland & Knight Advises IDB Invest on COP$120 Billion Sustainable Bond Subscription for Banco Finandina

BOGOTÁ (August 2, 2024) – Holland & Knight advised the Inter-American Investment Corporation (IDB Invest) as an investor in a sustainable bond subscription valued at 120 billion Colombian pesos (approximately US$30 million) for Banco Finandina BIC S.A. The agreement was signed on July 24.

Banco Finandina will issue the bonds on the Colombian Stock Exchange, Bolsa de Valores de Colombia (BVC). Additionally, the issuance is expected to support the growth of the green and social portfolio of Banco Finandina.

IDB Invest, as a member of the Inter-American Development Bank Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest provides financing to sustainable businesses and projects with the aim of achieving financial results while maximizing economic, social and environmental development in the region.

The Holland & Knight team advising IDB Invest was led by Partner Camilo Gantiva Hidalgo. He was supported by Associates Juan Felipe Fontecha Mejía and Simón Escobar Gómez.

“This agreement reflects the strong commitment of the IDB Group to support the development of the capital market in Colombia with projects promoted by the financial sector that have a clear social and environmental impact, as well as its commitment to supporting the reduction of existing poverty and equality gaps in Colombia,” said Mr. Gantiva Hidalgo.