Santander Chile issues first sustainable bond to finance the Women SME segment
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- The bond was for US$ 50 million, at a rate of 0.71% and a term of 3 years. This operation is part of the company’s efforts to contribute to the growth of businesses operated by women.
SANTIAGO, Chile, Feb. 16, 2021 (GLOBE NEWSWIRE) -- Santander Chile issued its first sustainable bond incorporating ESG (Environmental, Social, Governance) criteria, focusing on the segment of Women SMEs. The bond was a private placement from a Japanese investor with the advisory of Daiwa Securities Capital Markets, for an amount of US$50 million at a rate of 0.71% for three years. The objective of this transaction is to refinance or finance new loan operations to small and medium enterprises led by women.
This loan book has an approximate size of US$380 million, which is why access to this kind of financing is fundamental to continue promoting financial inclusion for women in Chile. With this new bond, Santander seeks to contribute to the growth of business operated by women, following the trends of the principal developed markets, and in line with its purpose to the progress of people and companies.
For Miguel Mata, CEO of Santander, “This sustainable bond is in line with the strategy the Bank is pursuing on a global basis in ESG issues and reflects our solid leadership position in sustainability indexes such as Dow Jones, Vigeo Eiris, MSCI, FTSE4Good and S&P IPSA ESG. The result of this operation also conveys the excellent perception from international investors, even in times of high uncertainty that we are facing in the world.”
With this new action, Santander Chile responds through concrete steps to the UN Sustainable Development Goals (UN SDG). In effect, in 2019 the entity defined 10 commitments to adhere to the UN SDG, among them, the commitment to help people progress and reap the benefits of financial inclusion through products and services and through education of these matters. The entity has as a global objective the financial inclusion of 10 million people between 2019 and 2025.
About Banco Santander Chile
Banco Santander Chile is the largest bank in the Chilean market in terms of loans and assets. As of December 31, 2020, the Bank had total assets of US$ 78.3 billion, loans net of provisions of US$ 46.9 billion, deposits of US$ 35.3 billion, and total equity of US$ 5.1 billion. The BIS capital ratio as of December 31, 2020 was 15.4%, with a core capital ratio of 10.7%. Banco Santander Chile is one of the companies with the highest risk classifications in Latin America with an A1 rating from Moody's, A from Standard and Poor's, and A+ from Japan Credit Rating Agency.
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