Lima, June 27, 2022 (GLOBE NEWSWIRE) -- Lima, PERU, June 27, 2022 -- Credicorp (NYSE: BAP) announces that BCP issued the first international bond in the Peruvian banking system for a total of US$30 million following the publication of its Sustainable Financing Framework in January 2022. Amundi, a French firm and Europe’s leading asset manager, acquired 100% of the issuance through its Amundi Planet - Emerging Green One Fund. The funds raised will initially be used to finance projects to develop eco-friendly production plants.
Diego Cavero, CEO of BCP, commented that this operation was conducted in line with Credicorp’s sustainability strategy, whose goal is to leverage the financial system to create more sustainable and inclusive economies.
“We are proud to be the first Peruvian bank to capture international funds to finance green projects. We are convinced that the financing system can propitiate the transition to business models and activities that are more eco-friendly. This issuance constitutes, without a doubt, a milestone in this direction,” said Mr. Cavero.
The Amundi Planet Emerging Green One Fund, which is managed by Amundi and was launched in partnership with the International Finance Corporation (IFC), aims to invest in a diversified portfolio of green bonds with an emphasis on those issued by financial institutions that are active in emerging markets. The objective of the fund is to promote and accelerate the development of the capital markets of these economies while generating positive environmental impacts.
BCP’s Sustainable Financing Framework was designed in accordance with the guidelines of the International Capital Market Association (ICMA), the Green Bond Principles 2021 (GBP), the Social Bond Principles 2021 (SBP) and Green Loan Principles 2021 (GLP). It is important to note BCP is the first bank in Latin America to receive a “strong” rating for its Sustainable Financing Framework, which defines the criteria used to determine eligibility for sustainable projects and clearly states the Bank’s commitment to providing transparent information on the use and impact of financing.
With BCP’s first green issuance, Credicorp reaffirms its commitment to sustainability as it continues to be guided by its corporate purpose to improve lives by accelerating the changes our countries need.
Credicorp Ltd. (NYSE: BAP) is the leading financial services holding company in Peru with presence in Chile, Colombia and Bolivia. Credicorp has a diversified business portfolio organized into four lines of business: Universal Banking, through Banco de Credito del Peru – BCP and Banco de Credito de Bolivia; Microfinance, through Mibanco in Peru and Colombia; Insurance & Pension Funds, through Grupo Pacifico and Prima AFP; and Investment Banking & Wealth Management, through Credicorp Capital, Wealth Management at BCP and Atlantic Security Bank.
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Source: CREDICORP LTD.