ETB Sees Strong COP Demand

ETB Sees Strong COP Demand

Colombia Bonds

Scarcity value and a pickup to other peso-denominated paper meant a strong bid for Empresa de Telecomunicaciones de Bogota’s (ETB) $300m-equivalent global COP-denominated bond. The city-owned telecom received $2.4bn in orders in its international debut, according to people following the sale, and brought pricing down to the bottom of the expected range. The Ba1/BBB minus bond priced at par with a 7.00% coupon, to yield at the tight end of 7.00-7.25% guidance following low-to-mid 7% talk. “There

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