IDB Invest has issued a private placement bond that in Colombian pesos that is the equivalent of around $50 million USD, the organization announced today.
The bond, with total sum of $144 billion pesos and maturing in 2025, aims to promote the economic development of Latin America and the Caribbean through the private sector and “serves as a platform to attract international finance to the region and meet the growing demand of clients in local currencies,” said IDB Invest in a statement.
This is the 10th bond issuance by IDB Invest, which is a part of the Inter-American Development Bank (IDB) Group, and third issued in Colombian pesos.
The organization placed the bond as a part of its global emissions program (EMTN) as part of its “local currency capacity expansion strategy to provide more financing flexibility to its clients,” added IDB Invest.
The organization added that this also represents further progress in its plans to grow in the country. “As IDB Invest expands its operations in Colombia, its Bogotá office will grow to better serve clients and have a greater impact on development,” stated the organization.