At the end of 2021, 27% of the long-term debt was issued through these bonds, of which the majority (48%) are sustainable.
Thematic bonds were launched in 2016, but in that year they only represented 2% of the total debt, but it was not until 2020 that the demand from the issuers increased. “I think the pandemic changed our mentality, both on the side of companies and on the side of investors, worrying about the environment, about society and starting to demand these types of products,” Bosch said.
The most recent of these instruments, which was launched in 2021, is the bonus linked to sustainability, the difference between this and the green, social or sustainable ones, is that the money collected is not labeled for a specific project, but is You can use it for any purpose, but your rate is linked to a specific objective of the company, for example, reduction of water use in 5 years.
“There are some things that are here to stay and I think that thematic bonds are undoubtedly one of them,” said Bosch, who explained that there are 16 different issuers of these instruments.
For the next two or three months, 70,000 million pesos will be seen in long-term bond issues, of which 35% will be thematic bonds.