Davivienda Lands Short Benchmark

Davivienda Lands Short Benchmark

Colombia Bonds

Andean issuers continue to dominate the debt capital markets in January, with Colombia’s Banco Davivienda joining the sovereign in printing a new benchmark Tuesday. The order book for the $500m 2018 was heard reaching $5bn, trumping the $3bn demand the government got for its new $1bn 10-year. The Ba1/BB+ bank was able to fill the 5-year spot on its maturity profile at costs seen flat to its dollar curve. It priced at 99.742 with a 2.95% coupon to yield 3.00%, or UST+225bp, tight to UST+250bp-are

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