US$79 million in green bonds in Colombia count on second party opinion (SPO) from SITAWI

ISA issued its first green bond in the local Colombian market to finance two energy transmission projects. The resources, in the amount of COP 299,997 MM, will contribute to the connection of unconventional renewable energies (wind and solar) to the Colombian electrical system. The bond was 2.5 times oversubscribed.

The issuance had a Second Party Opinion (SPO) from SITAWI, which supported the management by analyzing and ratifying the social and environmental benefits of a project relevant to Colombia’s sustainable development.

“We are very happy to participate as external reviewers and to enable another green issuance in the Colombian market, which has a great growth potential and is consolidating itself as a reference among countries in the region”, commented Fred Seifert, Head of Operations for Latin America and the Caribbean.

This is the first SPO made by SITAWI for an issue in a local market outside Brazil – where +90% of thematic issuances (+35) had our SPO. This fact reinforces our weight as the largest sustainable finance practice in Latin America and the Caribbean and our growing relevance in the region, even more since the opening of our office in Bogotá in 2020.

Although it is the first green bond issued by ISA Group in the bond market in Colombia, the group has already other experiences in issuing green bonds in other markets. ISA CTEEP was the first company in the group and the first in the segment of energy transmission to carry out an operation with green debentures in Brazil. This issuance also featured a SPO from SITAWI.