The city of Barranquilla has successfully closed a US$350 million sustainable bond issuance, marking the first time a Colombian municipality has tapped international capital markets for green financing.
The deal attracted demand exceeding US$1.2 billion, indicating strong investor interest in sub-sovereign environmental, social, and governance (ESG) instruments from emerging markets.
The Dominican Republic recently closed its first-ever green bond issuance, raising US$750 million at a discount to its sovereign borrowing costs.
Barranquilla, a major industrial hub and Caribbean port in Colombia, used the proceeds to fund projects aligned with sustainability criteria.
The significant oversubscription suggests that international investors are increasingly comfortable with municipal credit risk in the region, provided the underlying assets and governance structures meet rigorous standards.
This issuance follows a broader trend of Latin American sub-sovereign entities accessing green capital.
The Dominican Republic recently closed its first-ever green bond issuance, raising US$750 million at a discount to its sovereign borrowing costs.