Movistar bags new sustainability-linked loan in Colombia

Movistar bags new sustainability-linked loan in Colombia

Loans Debt Telecoms Mobile Sustainability-Linked Energy Renewable

Movistar Colombia, part of the Spanish telecommunications company Telefónica, has taken out a sustainability-linked loan for COP300 billion ($80 million) from BBVA to fund energy saving projects. BBVA originally granted the loan in 2020, but it converted it to a sustainability-linked loan after a review of the key performance indicators by Valora Consultores, the Spanish bank's Colombian branch said in a press release on Tuesday. Energy is the part of the value chain with the best opportunities

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