Norton Rose Fulbright Advises CAF as Anchor Investor in US$600 Million COP-denominated Green Bond Issued by the City of Bogotá

"Norton Rose Fulbright advised the Development Bank of Latin America and the Caribbean (CAF) as an anchor investor in a COP-denominated US$600 million green bond issued by the City of Bogotá. The deal closed on 5 November 2025, was the first green bond by a Latin American city and the largest city green bond in the Americas; IFC was the other anchor investor."

Norton Rose Fulbright represented the Development Bank of Latin America and the Caribbean (CAF) as an anchor investor in a COP-denominated US$600 million green bond issuance by the City of Bogotá. The International Finance Corporation (IFC) acted as the other anchor investor and the City of Bogotá was the issuer. The transaction closed on 5 November 2025. It was the first green bond issued by a Latin American city, the largest recorded green bond transaction by a city in the Americas, and the first city green bond whose proceeds were fully allocated to green projects. The financing will support clean transportation initiatives in Bogotá, including Bogotá Metro Line 2 and electric cable car lines. Norton Rose Fulbright represented the Development Bank of Latin America and the Caribbean (CAF) with a team composed by: Kenneth Hansen and Micaela Garcia-Ribeyro (Washington, DC).

Norton Rose Fulbright Advises CAF as Anchor Investor in US$600 Million COP-denominated Green Bond Issued by the City of Bogotá

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