Business

Sustainable Finance is Raised by Banco do Brasil

Share

A triple sustainable repo with the French bank Natixis Corporate & Investment Banking raised $100 million, according to the Brazilian state-owned lender Banco do Brasil, which claims to be the first in the world to integrate three sustainable components in a single transaction.

In a news release, Banco do Brasil stated that it will refinance its sustainable credit portfolio, which is concentrated on social housing projects, using the proceeds from the transaction—the first made possible by its new sustainability-linked debt framework.

To rise from BRL207 billion at the end of last year to BRL320 billion ($62 billion) by the end of 2030, the bank’s investments in sustainable businesses will be the second main focus.

The operation’s sustainability coordinator, Natixis CIB, is guaranteed to uphold Banco do Brazil’s commitment to sustainable practices by way of the country’s first sustainable bond, which was issued in November of last year.

The deal featured attractive pricing, according to José Ricardo Sasseron, vice president of government business and corporate sustainability at the bank.

“This differentiated pricing based on the innovative transaction highlights how the inclusion of ESG criteria can mitigate financial, social, and climate risks, making assets even more attractive,” he said in the statement.

Seven-year sustainable bonds worth $750 million were offered by Banco do Brasil in March; the offering was approximately 4.7 times oversubscribed on the global bond market. According to Fitch Ratings, the money raised from that issue will go toward qualifying green and sustainability projects.

Raeesa Sayyad
Published by
Raeesa Sayyad

Recent Posts

Italy vs Albania, UEFA Euro 2024 – Preview, Prediction, h2h, Team Squads, Predicted Lineups, Players to Watch and Match Details

Italy, the four-time world champions, will take on Albania, one of the tournament's biggest underdogs,… Read More

7 mins ago

From Navy Bands to Bestsellers: The Multifaceted Career of Richard Weirich

Richard Weirich's journey from his early days in the U.S. Navy Band to his evolution… Read More

25 mins ago

Spain vs Croatia, UEFA Euro 2024 – Preview, Prediction, h2h, Team Squads, Predicted Lineups, Players to Watch and Match Details

Spain vs. Croatia, the first truly important match of the finals, will kick off Group… Read More

7 hours ago

Hungary vs Switzerland, UEFA Euro 2024 – Preview, Prediction, h2h, Team Squads, Players to Watch and Match Details

The second match of Group A of UEFA Euro 2024 pits Hungary against Switzerland. These two teams… Read More

15 hours ago

6 Key Tips to Consider If You Want to Manage Your Savings Account Efficiently

A healthy economy often results in consumers placing more of their discretionary income into savings… Read More

17 hours ago

Germany vs Scotland, UEFA Euro 2024 – Preview, Prediction, h2h, Team Squads, Predicted Lineups and Match Details

Germany takes on Scotland in Group A at the Allianz Arena on Friday night to… Read More

19 hours ago