NEW YORK (May 28, 2025) – Holland & Knight advised Inter-American Investment Corporation (IDB Invest) and responsAbility Climate Smart Agriculture & Food Systems Fund as subscribers of a $26 million seven-year secured green bonds issuance by Arrendamiento de Máquinas Royal Rental S.A. and Royal Rental Colombia S.A. The issuance, which is guaranteed by Multitécnica S.A. and Royal América Internacional S.A., consists of two tranches: Tranche A, issued in Chilean pesos for up to an equivalent of US$16 million allocated to Arrendamiento de Máquinas Royal Rental S.A.; and Tranche B, issued in U.S. dollars for up to $10 million allocated to Royal Rental Colombia S.A.S. The deal closed on May 9.
The transaction will play an important role in reducing the environmental footprint of logistics operations in the region, especially in the food supply chain, by replacing conventional fossil fuel-powered machinery with electric machinery. The transaction is aligned with the Green Bond Principles established by the International Capital Market Association (ICMA).
IDB Invest is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social and environmental development in the region.
responsAbility is a leading impact asset manager specializing in private market investments contributing to the United Nations Sustainable Development Goals (SDGs): Financial Inclusion, Climate Finance and Sustainable Food. All responsAbility investment solutions target specific measurable impact alongside market returns.
IDB Invest and responsAbility were represented under New York law by Holland & Knight Partner Stephen Double, Associates Maria De Bedout and Nicolas Usandivaras, and International Law Clerk Lucia Viboud Aramendi. Under Colombian law, the subscribers were advised by Bogotá-based Holland & Knight Partner Camilo Gantiva Hidalgo and Associate Juan Felipe Fontecha Mejía. Chilean firm Carey y Cia acted as co-counsel on the transaction.
More information on the transaction can be found here.