IDB to back sustainable PF
IDB Invest is looking to lead a senior unsecured A/B loan for up to US$300m to increase Banco de Galicia y Buenos Aires’s ability to provide sustainable project finance.
The proposed deal includes an A loan of up to US$150m to be financing by IDB Invest across two tranches: a committed tranche of up to US$100m and an uncommitted tranche of up to US$50m. The B loan of US$150m will be financed by institutional investors. The loan will have a seven-year tenor. The funds will be allocated to projects categorised as sustainable under the bank’s sustainable finance taxonomy. The IDB board will asses the deal on October 21.
