Banco de Bogotá to issue green bonds for $77.6 mm

Banco de Bogotá announced on Wednesday its first placement of green bonds for $77.6 mm on the Colombian Stock Exchange. In a statement, the financial entity explained that these resources will be used to finance projects framed in the categories of renewable energy, energy efficiency, land use, waste management, water treatment, sustainable transport and infrastructure, and green construction.

Colombia’s Ecopetrol to divest nine oil and gas assets in auction

Colombia's majority state-owned energy company Ecopetrol will divest its stakes in nine oil and gas producing assets via an electronic auction scheduled for Q4 2020. The nine assets have a combined production of 3,000 barrels of oil equivalent (BOE) a day, with an estimated 17 million BOE in proved, probable and possible 3P reserves, of which 11 million barrels are proved. The assets offer the potential to develop 13 million BOE of contingent reserves, as well as exploration options for some 35 million BOE in prospective resources.

With 3.18% fall, the Colombian peso is the most depreciated currency in Latin America in september 2020

The currencies of the main Latin American economies continue to increase their losses due to uncertainty and fears about covid-19. The Colombian peso became the most devalued currency in the region so far this month, with a 3.18% depreciation, according to Bloomberg. The fall in the return value between the local peso in relation to the dollar is due to the pandemic and lower oil prices.

Bankrupt airline Avianca paid $6 mm in executive bonuses during pandemic

Airline Avianca Holdings came under broad criticism in Colombia for paying its top two executives $6 mm in bonuses in May, at a time when the carrier had furloughed most of its employees without pay and was preparing a bankruptcy filing. Avianca took more radical payroll cutting measures than its rivals, asking the majority of its 20,000 employees to take unpaid leaves.

Johnson & Johnson Begins Phase 3 Study of First Single-Shot COVID-19 Vaccine Candidate

Johnson & Johnson is beginning a final study to prove if a single-dose COVID-19 vaccine can protect against the virus. The study will be one of the world’s largest coronavirus vaccine studies so far, testing the shot in 60,000 volunteers in the U.S., South Africa, Argentina, Brazil, Chile, Colombia, Mexico and Peru. J&J’s vaccine is made with slightly different technology than others in late-stage testing, modeled on an Ebola vaccine the company created.