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:
[email protected]
Tel: +507 210-8625
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SOURCE Banco Latinoamericano de Comercio Exterior, S.A. (Bladex)