Colombia Targets $2.5bn in TES Buyback

Colombia Targets $2.5bn in TES Buyback

Colombia

The Colombian Treasury will today target COP5.4trn in TES bonds through a repurchase of the paper two months before maturity. Julio Torres, head of public credit, tells LatinFinance that he expects not more than 10%-20% participation, based on the history of these transactions. He adds that the government will save 2.75% by depositing the bonds into the Central Bank. The 12% notes come due November 9. The deal is viewed as a move to free up portfolios so investors buy deals like Ecopetrol's IPO,

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