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Movistar signs sustainability-linked loan from Colpatria

Movistar signs sustainability-linked loan from Colpatria

July 5, 2021 | Jo Bruni
Colombian telco gets $53 mln in pesos with the interest rate tied to energy efficiency and training

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Movistar Colombia, a subsidiary of Spanish telecommunications company Telefónica, has signed a three-year, COP200 billion ($53 million) sustainability-linked loan from Scotiabank Colpatria, the first long-term financing of its kind for both the borrower and the lender, Jabar Singh, vice president of wholesale banking at Scotiabank Colpatria, said Friday. Movistar tied the interest rate to "energy consumption per unit of telecom traffic" and to training for digital security, said a spokesperson f

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