Norton Rose Fulbright advises CAF as anchor investor in US$600 million green bond issuance

Global law firm Norton Rose Fulbright represented the Development Bank of Latin America and the Caribbean (CAF) as an anchor investor in a COP-denominated US$600 million green bond issuance by the City of Bogotá.

The transaction, which closed on November 5, 2025, was the first green bond to be issued by a a Latin American city, the largest recorded green bond transaction by a city in the Americas and the first whose proceeds were completely allocated to green projects. The financing will support clean transportation initiatives in the city, including Bogotá Metro Line 2 and electric cable car lines.

The International Finance Corporation of the World Bank Group was the other anchor investor on the deal.

Norton Rose Fulbright's deal team included Kenneth Hansen and Micaela Garcia-Ribeyro (Washington, DC).