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IDB Invest, the private sector arm of the Inter-American Development, said it raised $160 million in back-to-back sustainable bond deals in cross-border markets.
The multilateral lender sold MXN2.5 billion ($150 million) worth of three-year notes in Mexican pesos and COP40 billion ($10 million) worth of six-year notes in Colombian pesos, it said in a press release on Tuesday.
IDB Invest priced the 2027 notes in Mexico at a floating rate over the TIIE interbank lending rate plus 0.10%, with Santander and Scotiabank as the placement agents. Investors placed as much MXN3 billion in orders, according to the press release.
The 2030 notes in Colombia were priced at a fixed rate of 9.649% with HSBC as the sole placement agent, IDB Invest added.
The 2027s will be listed on Mexico’s BIVA exchange and the 2030s will be listed in the London Stock Exchange, it said.
The lender said it plans to use the proceeds from both deals to finance sustainable projects, such as clean transportation, renewable energy and telecommunications infrastructure.
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