Celepsa obtains US$100 million sustainability-linked loan The Bank of Nova Scotia and Bci

• Our renewable energy goals were a determining factor in our eligibility for this loan.

The energy generation and commercialization company Celepsa, a Grupo UNACEM company, has closed a loan agreement linked to sustainability with The Bank of Nova Scotia (BNS) and Banco de Crédito e Inversiones (Bci). The amount sums up to US$100 million, with financing granted for a term of three years, from 2024 to 2027.

This type of loan is a financial instrument in which the terms, such as the interest rate, are adjusted according to the borrower’s performance on predefined sustainability metrics. These loans are based on the Loan Market Association’s (LMA) Sustainability-Linked Lending Principles, which establish the borrowers’ commitment to future improvements in their sustainability performance within a specified time frame.

The sustainability metrics defined for the loan respond to globally recognized materiality criteria, such as the Sustainability Accounting Standard (SASB) materiality maps for the Electric Utilities & Power Generators sector and Morgan Stanley Capital International (MSCI) for the Independent Power Producers & Energy Traders sector.

The particular includes future investments in the development of a 700 MW renewable energy pipeline and maturity goals in Occupational Health and Safety, which will be implemented through its corporate Life First program.

In addition, the company received a second opinion from Valora Consultores, which validated compliance with the Sustainability Lending Principles and the sustainability commitments assumed for the loan.

“Renewable energy promotion’s portion of the sustainability-linked loan will contribute to a transition to a low-carbon economy. We are proud that our sustainability efforts are being recognized in the marketplace. This agreement reflects our dedication to continuous improvement in environmental, social and governance areas,” commented Eduardo Rivas, Celepsa’s general manager.

The company remains committed to sustainable development and the implementation of specific projects that contribute to a responsible and safe energy transition for the future.

In this loan, Bank of Nova Scotia (BNS) acted as Joint Lead Arranger, Joint Bookrunner, Co-Sustainability Structuring Agent and Eligible Hedging Counterparty.

For their part, Bci Miami acted as Joint Lead Arranger and Joint Bookrunner; Bci Chile as Co-Sustainability Agent and Co-Structuring Agent, and Bci Perú as Co-Structuring Agent and Eligible Hedging Counterparty