Banco Continental hoping to inspire other issuers with Paraguay’s first sustainability bond

Paraguay, cows, beef, protein, meatpacker, Frigorifico Concepcion, Fricon, Latam, 575
By Oliver West
01 Dec 2020

Paraguay’s largest commercial lender, Banco Continental, hopes its planned issuance of sustainability bonds will be an example for other issuers to follow, stating in its sustainability bond framework that its commitment to sustainable development is “inherently linked” to Paraguay’s historical dependence on the agriculture and livestock sectors.

JP Morgan and Santander are leading Continental’s proposed senior unsecured sustainability bonds, which are likely to have a five-year maturity and have been rated Ba1/BB+, in line with the Paraguayan sovereign. However, unlike the sovereign, Continental’s bonds have a negative outlook from Moody’s due to the ...

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