Clifford Chance advises on US$600 million green bond issuance by the City of Bogotá

Global law firm Clifford Chance has advised Goldman Sachs and BNP Paribas, as structuring banks and initial purchasers, on the City of Bogotá’s COP-denominated green bond issuance, the first by a Latin American city. The green bond transaction marked Bogotá’s return to the international capital markets after 15 years, featuring CAF and IFC as anchor investors.

Proceeds will finance transformative sustainable urban development projects, including Bogotá Metro Line 2 and three new electric cable car lines, promoting fully electric transport and emissions reduction as part of Bogotá’s Green, Social and Sustainable Bond Framework.

The team was led by partner Hugo Triaca and included associates Joyce Moore (New York), Mariana Gutierrez Ruiz (Madrid) and Douglas Mulliken (Washington, DC).

Clifford Chance advises on many similar transactions in the region, most recently on CEL’s inaugural notes issuance, guaranteed by the Republic of El Salvador.