Scotiabank Colpatria Helps ETB Achieve Sustainability Indicators through Debt Substitution Operation

Scotiabank Colpatria reported that a long-term loan that had been assigned to ETB was successfully transformed, for $524,000 million in November 2022, “into financing linked to sustainability indicators.”

As explained by the lender, the debt substitution operation will allow ETB to improve its debt profile by meeting two sustainability indicators. “On the one hand, to continue advancing with the substitution of copper cabling for fiber optics in the metropolitan area of ​​Bogotá, a decision that will represent an improvement in the connectivity of the services offered by the company, making it more friendly to the environment; and on the other On the other hand, to continue developing the equity strategies that the company is implementing through the training of women in issues related to information and communication technologies”.

The $524,000 million will be used by ETB to cover the financial liability and obligations associated with the deployment of fiber optics in the metropolitan area of ​​Bogotáas well as the implementation by the company of more than 6,500 digital centers that provide free internet to nearly 567 municipalities in the country in the medium and long term.

“We have the firm conviction of supporting our clients in their commitment to sustainability and equity. This is why we are proud to accompany ETB in this debt replacement that seeks to meet these purposes and allows us to adapt to new financing strategies tied to sustainability indicators”, indicated Gustavo Ale, vice president of Wholesale Banking at Scotiabank Colpatria.