Colombia Returns for $1bn

Colombia Returns for $1bn

Colombia Bonds

Colombia emerged with a new $1bn 2023 benchmark bond, conceding fewer than 10bp after generating $3bn in demand. Starting at UST+95bp-area guidance, the sovereign tightened to price at 99.179 with a 2.625% coupon to yield 2.718%, or UST+88bp. The bonds were trading up 0.45 points in the grey Tuesday afternoon, according to a trader. “The bond at 95bp spread over UST looked cheap to the curve, but the curve was expensive to begin with, and will likely re-price with higher yields with this deal,”

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