Banco Santander-Chile placed $100 million of social bonds in the international market. This is the bank’s first sustainable bond with ESG (Environment, Social and Governance) criteria, with a fixed rate of 0.715% and a three-year term.
The proceeds generated will be used to refinance or finance new lending operations to Chilean small and medium-sized enterprises (SMEs) led by women. The institution’s portfolio for this segment is USD 380 million.
With this new instrument, Santander seeks to contribute to the strengthening and growth of businesses operated by women, following the trend in the main developed markets, and in line with its purpose of helping people and companies to progress.