Market Insights

Lima, January 17, 2022 - The Bank of Nova Scotia (Scotiabank) and Cálidda announced a Sustainability Linked Loan and Linked Derivative for US$200 million with which the Peruvian Natural Gas company will continue to strengthen its environmental, social and governance (ESG) strategy.

This financing, qualified as a "Sustainability Linked Loan", was granted for a term of five years and offers financial incentives for Cálidda to optimize its rating in the ESG rating of Vigeo Iris, a leading company in sustainability assessment. In this way, Cálidda is committed to continue working to generate economic, social and environmental value through its operations and the services it provides.

In this regard, Ignacio Belaunde, Vice President of Investment Banking at Scotiabank, stated: “The financial sector plays a fundamental role in mobilizing resources and making investment decisions that contribute to building a sustainable future, taking into account social and environmental factors. This important financing with Cálidda is part of our ongoing commitment as Scotiabank to accompany our clients to align their financing needs with sustainability strategies and objectives.”

For his part, Mario Caballero, financial director of Cálidda, reported: “Hand in hand with the financial sector, in less than a year we have obtained our second sustainable financing, attesting to our genuine commitment to continue growing under the principles of sustainability and contributing to the development of our country. The loan with Scotiabank will allow us to continue expanding the distribution network and connect more than 100,000 new homes in the coming years, promoting access to an affordable, safe and clean source of energy. At Cálidda we know that Natural Gas is synonymous with development, which is why we will continue to be committed to generating progress and improving the quality of life for families in Lima and Callao.”

Read the news release (in Spanish)

 

5 Year Sustainability Linked Loan & Linked Derivative

 

 

US$200,000,000

 

Sustainability Agent, Sole Arranger, Sole Lender & Sole Sustainability-Linked Derivative Provider

 

December 2021