The syndicated loan follows the Green Loan
Principles (GLP) guidelines of the Loan Market Association (LMA)
and the Loan Syndications and Trading Association (LSTA). It
reflects the commitment of both entities to support projects that
promote the transition to renewable energy, help mitigate climate
change and strengthen the energy supply for the country's
growth.
PANAMA CITY, March 13,
2025 /PRNewswire/ -- Banco Latinoamericano de
Comercio Exterior, S.A. (Bladex) and The Bank of Nova Scotia (Scotiabank) announced the
successful closing of a US$100
million syndicated loan for Empresa Generadora de
Electricidad Haina (EGE Haina), reaffirming their commitment to the
region's energy transition and sustainable development.
The proceeds of the syndicated loan will be used to support EGE
Haina in the development of its renewable energy assets platform,
supporting the company's growth strategy in line with the national
objective of increasing the share of renewable energy in the
Dominican Republic's energy
matrix.
Jorge Salas, CEO of Bladex, said,
"This financing reaffirms our mission to be a key
strategic partner in the development of sustainable infrastructure
in the region. We are proud to partner with Scotiabank and support
EGE Haina in its commitment to energy transition and the generation
of cleaner, more efficient energy for the Dominican Republic."
Gonzalo Gil, CEO of Scotiabank
Dominican Republic, said, "we are committed to the Dominican Republic and to our customers, to
continue helping them grow with a vision of sustainable
development."
The successful completion of this financing strengthens the
relationship between EGE Haina, Bladex and Scotiabank and reaffirms
the role of financial institutions in supporting sustainable
projects and economic growth in the region.
"The installation of new renewable energy generation is a
fundamental pillar of EGE Haina's growth. As such, the Company
continues to anchor its financing strategy in green or sustainably
labeled capital structures. This financing fits perfectly with our
development plans. We are grateful for the support of the financial
institutions that strengthen our sustainable energy model," said
Rodrigo Varillas, Senior
Finance Director of EGE Haina.
EGE Haina is a leader in sustainable energy generation in the
country, with a diversified portfolio that includes wind farms,
solar plants and efficient thermal generation. With this new
financing, under the Green Loan Principles (GLP) guidelines of the
Loan Market Association (LMA) and the Loan Syndications and Trading
Association (LSTA), the company aims to further
strengthen its position as a key player in the decarbonization of
the electricity sector and energy security in the Dominican Republic.
About Bladex:
Bladex is a multinational bank founded in 1979 by the central
banks of Latin America and the
Caribbean to promote trade finance
and economic integration in the region. Headquartered in
Panama, with representative
offices in Argentina, Brazil, Colombia, Mexico and an Agency in the United States, the Bank provides financial
solutions to institutions and corporations throughout the region.
Listed on the New York Stock Exchange (NYSE: BLX) since 1992 and on
the Mexican Stock Exchange for more than 10 years, Bladex has
consolidated its presence in the international financial markets.
Its shareholder base includes central banks, government entities
and banks from 23 Latin American countries, as well as
institutional and private investors.
About Scotiabank
Scotiabank's vision is to be our clients' most trusted financial
partner, to deliver sustainable, profitable growth and maximize
total shareholder return. Guided by our purpose: "for every
future," we help our clients, their families and their communities
achieve success through a broad range of advice, products and
services, including personal and commercial banking, wealth
management and private banking, corporate and investment banking,
and capital markets. With assets of approximately $1.4 trillion (as at October 31, 2024), Scotiabank is one of
North America's largest banks by
assets and trades on the Toronto Stock Exchange (TSX BNS) and
New York Stock Exchange (NYSE: BNS). For more information,
please visit http://www.scotiabank.com and follow us on X
@Scotiabank.
About EGE Haina:
EGE Haina is the leading public-private company in the country,
one of the most important electricity generators in the
Dominican Republic and a leader in
renewable energy in the Antilles. It has invested more than
US$1.6 billion in creating a
diversified and sustainable electricity generation matrix with an
installed capacity of more than 1,200 MW. The company is the
largest private issuer of corporate bonds in the local capital
market, the leading issuer of green bonds on the Dominican Republic
Stock Exchange and the first Dominican issuer of a sustainability
bond in the international markets.
CONTACT:
Warren Bonilla, Head of Central America and the Caribbean
E-mail address:
wbonilla@bladex.com
Tel: +507 210-8625
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SOURCE Banco Latinoamericano de Comercio Exterior, S.A.
(Bladex)
