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Bancóldex to offer social impact bonds worth 300B Colombian pesos

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Bancóldex to offer social impact bonds worth 300B Colombian pesos

Banco de Comercio Exterior de Colombia SA – BANCÓLDEX on May 24 plans to auction and issue social impact bonds worth 300.00 billion Colombian pesos, according to a securities filing.

The bank plans to offer the notes, which form the second issuance of a bond program worth 3.00 trillion pesos, in three series.

The 60-month series A bonds carry a maximum of a 3.30% rate on top of the official Colombian consumer price index IPC. The 36-month series C notes yield at a 6.40% fixed rate and the D notes, which also have a term of 36 months, carry rate with a 1.55% margin above the IBR index.

Bancóldex will use the funds raises in the offering to finance social projects as they are defined by the company, according to a May 23 filing.

As of May 23, US$1 was equivalent to 2,864.10 Colombian pesos.