Brazilian state-owned lender Banco do Brasil said it raised $100 million through a triple sustainable repo with the French bank Natixis Corporate & Investment Banking, billing it as the first operation in the world to combine three sustainable elements in a single transaction.

Banco do Brasil said it will use the proceeds from the deal, the first under its new sustainability-linked debt framework, to refinance its sustainable credit portfolio, which is focused on social housing projects, according to a press release.

A second focus will be on increasing the bank’s investments in sustainable businesses with the objective of reaching BRL320 billion ($62 billion) by the end of 2030, up from BRL207 billion at the end of last year.

Natixis CIB was the sustainability coordinator of the operation, and the bond is backed by Brazil’s debut sustainable bond issued in November last year as a guarantee that Banco do Brazil will strengthen its commitment to sustainable practices.

José Ricardo Sasseron, the bank’s vice president of government business and corporate sustainability, said that the deal had attractive pricing.

“This differentiated pricing based on the innovative transaction highlights how the inclusion of ESG criteria can mitigate financial, social and climate risks, making assets even more attractive,” he said in the statement.

In March, Banco do Brasil sold $750 million worth of seven-year sustainable bonds in the international market, a deal that was roughly 4.7 times oversubscribed. The proceeds of that issue will fund eligible green and sustainability projects, according to Fitch Ratings.

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