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SMBC and LarrainVial Announce First Close of $200 million Colombian Infrastructure and Renewable Energy Debt Fund
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Sumitomo Mitsui Banking Corporation and LarrainVial have announced the first close of a new debt fund that will provide Colombian peso-denominated loans for infrastructure and renewable energy projects in Colombia. The total fund size is up to COP900 billion (approximately $200 million). The debt will help finance private and public projects ranging from transportation and telecom to water, wind farms, schools, and hospitals, while meeting the investment needs of institutional investors in Colombia.
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NEW YORK--(BUSINESS WIRE)--
Sumitomo Mitsui Banking Corporation, a member of SMBC Group, and LarrainVial, an independent Latin American financial services company, today announced the first close of a new debt fund that will provide Colombian peso-denominated loans for infrastructure and renewable energy projects in Colombia. The total fund size is up to COP900 billion (approximately $200 million).
The debt will help finance private and public projects ranging from transportation and telecom to water, wind farms, schools, and hospitals, while meeting the investment needs of institutional investors in Colombia.
“SMBC is committed to enabling the growth of infrastructure and renewable energy projects across Latin America,” said Luis Fernando Perdigon, Head of Latin America Corporate and Project Finance at SMBC. “With the close of this fund, we are pleased to provide local market funding capacity for Colombian institutional investors that helps bring these projects to life.”
Maria Jose Ramirez, President of LarrainVial Colombia, added, “this fund demonstrates the commitment that the Colombian institutional investors have to development projects. We are proud to help support their investment in Colombian infrastructure in a diversified manner.”
The new debt fund leverages deep financial expertise in support of Colombian infrastructure and renewable energy projects. SMBC is the leading international bank to provide infrastructure and renewable energy project finance services in Colombia, while LarrainVial is one of the oldest and largest financial intermediation and advisory firms in Latin America.
About SMBC Group
SMBC Group is a top-tier global financial group. Headquartered in Tokyo and with a 400-year history, SMBC Group offers a diverse range of financial services, including banking, leasing, securities, credit cards, and consumer finance. The Group has more than 150 offices and 86,000 employees worldwide in nearly 40 countries. Sumitomo Mitsui Financial Group, Inc. (SMFG) is the holding company of SMBC Group, which is one of the three largest banking groups in Japan. SMFG’s shares trade on the Tokyo, Nagoya, and ADRs on the New York (NYSE: SMFG) stock exchanges.
In the Americas, SMBC Group has a presence in the U.S., Canada, Mexico, Brazil, Chile, Colombia, and Peru. Backed by the capital strength of SMBC Group and the value of its relationships in Asia, the Group offers a range of commercial and investment banking services to its corporate, institutional, and municipal clients. It connects a diverse client base to local markets and the organization’s extensive global network. The Group’s operating companies in the Americas include Sumitomo Mitsui Banking Corp. (SMBC), SMBC Nikko Securities America, Inc., SMBC Nikko Securities Canada, Ltd., SMBC Capital Markets, Inc., SMBC Rail Services LLC, Manufacturers Bank, JRI America, Inc., SMBC Leasing and Finance, Inc., Banco Sumitomo Mitsui Brasileiro S.A., and Sumitomo Mitsui Finance and Leasing Co., Ltd. For more information, please visit www.smbcgroup.com.
About LarrainVial
LarrainVial is one of Latin America’s leading financial services companies, present in Chile, Colombia, Peru, United States, and Panama. Founded in Chile, with more than 87 years of experience and 800 professionals, it offers its clients a service of excellence in financial advisory, intermediation, corporate finance, research, third-party products distribution, asset management, wealth management, and alternative assets. The company oversees assets for more than USD 28 billion, is the leader stockbroker in the Andean Region with a 17% market share, and has a client network in over 40 countries in five continents.
