Company name

Banco de Bogotá S.A.

Project number

14338-01

FI-2 operations are those where the risk potential is considered medium: the FI’s current or future portfolio consists of or is expected to consist of, business activities that have potential limited adverse environmental or social risks or impacts that are few in number, generally site-specific, largely reversible, and readily addressed through mitigation measures; or includes a very limited number of business activities with potential adverse environmental or social risks or impacts that are diverse, irreversible, or unprecedented.

E&S category
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FI-2

Country

Colombia

Sector

Financial Institutions

Status

Proposed

Disclosed date

11/17/2022

Projected date at which a project will be put forward for the Board of Executive Directors’ approval.

Projected board date
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12/16/2022

Approval date

12/19/2022

Signed date

03/02/2023

Sponsoring entity

N/A

Team leader

Echeverri, Ana Rosa

Investment type

Syndicated amount

N/A

Financing amount

USD $ 80,000,000

Currency

USD

Project scope and objective

The Project consists in providing Tier II subordinated financing to Banco de Bogotá for a total amount of up to US$505 million, as follows: (i) the IDB Group will provide an amount of up to US$80 million; and (ii) other co‑investors will provide an amount of up to US$425 million, through a private placement issued by Banco de Bogotá. The term of the financing will be up to 10 years. The resources will be used for strengthening the capital and expanding the green portfolio and social portfolio focused on Micro, Small and Medium-Sized Enterprises (“MSMEs”). The use of funds will allow the issuance to be labeled as sustainable under the International Capital Market Association (“ICMA”) thematic bonds principles.

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Environmental and social review

IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.

BANCO DE BOGOTÁ – SUBORDINATED SUSTAINABLE BOND - 14338-01 -ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)

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Contact information

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Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

Patricia González

POSITION

Gerente de Tesorería

PHONE NUMBER

+57 601 3446009

EMAIL

pgonzal@bancodebogota.com.co

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

COUNTRY OFFICES

IDB Invest Country Offices

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