Dentons advises DEG on Banco de Occidente loan

Dentons Cárdenas & Cárdenas acted as legal counsel to DEG on a US$150 million subordinated loan to Banco de Occidente in Bogotá. The 10-year facility will strengthen the Colombian bank’s Tier 2 capital.

At least 80% of the proceeds must be allocated to green and sustainable projects, supporting Colombia’s transition toward a low-carbon economy. Banco de Occidente will also receive technical assistance from DEG Impulse to strengthen its environmental and social management and its green finance capabilities.

The Dentons team was led by Partners Eduardo Cárdenas (pictured) and Felipe Alarcón, working alongside Associate María Fernanda Bonilla.