BBVA, together with Bank of America Securities and Citigroup Capital Markets, led Ecopetrol's new issuance of corporate debt in the U.S. market in the amount of $1.85 billion.

This placement consolidates BBVA's role as one of the top financial institutions in the structuring, placement and sale of corporate bonds.

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BBVA issues Colombia's first social bond in the international market

BBVA was selected as one of the bookrunners for Colombia's first issue of social bonds in the international market. The debt was rated Baa2/BB+/BB+ for its inaugural offering and was denominated in US dollars with a dual-tranche format maturing in 2035 and 2053. It is an integral part of the Colombian government's sustainable strategy, and is the first time the country has issued social bonds and only its second issue under ESG (Environmental, Social and Corporate Governance) criteria, following the placement of Green Treasury Notes in 2021, in which BBVA also acted as lead bookrunner.

'For BBVA, it is very important to continue supporting Colombian businesses in the search for capital to grow. Ecopetrol has been a fundamental client for our bank - not only because it is the largest company in the country, but also due to its proven commitment to transition to cleaner energy. With this operation, BBVA is ratifying its promise to accompany our clients looking for financing options in capital markets. I would like to thank the entire team that made this successful debt issue possible,' said Carlos Alberto Rodriguez, head of CIB at BBVA in Colombia.

The oil company's new debt issue is characterized by the issuance of 12-year debt securities, including the repurchasing of the bonds with a 2025 maturity. The operation began on January 9th, with high demand.

It is important to note that BBVA has actively participated in the debt market, issuing the first social bond in Colombia and the first blue bond, as well as other operations with private companies.

(C) 2024 Electronic News Publishing, source ENP Newswire