EPM Raises COP500bn Locally

EPM Raises COP500bn Locally

Colombia Bonds

Colombian utility Empresas Publicas de Medellin (EPM) has issued COP500bn ($264m) in local bonds in 3 tranches, all priced at par. A 6-year tranche has a coupon of 3.25% over IPC, a 12-year piece pays 4.20% over IPC and a 20-year tranche pays 4.94% over IPC. Demand for the AAA rated notes, which will finance working capital, was almost COP976bn, says a banker on the deal. It was upsized from COP350bn. There was no bank leading the sale, but Correval, Interbolsa and Corredores Asociados were book

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