Reverse Interest Drives Rubiales Retap

Reverse Interest Drives Rubiales Retap

Colombia Bonds

Pacific Rubiales took advantage of reverse inquiry to raise $300m through a reopening of its 2021 bonds Monday. The Colombian-Canadian E&P operator reopened the 7.25% coupon notes at 105.00 to yield 6.241%, in line with 105.00 guidance and earlier 105.00-area initial price thoughts, according to people familiar with the terms. The 2021s were seen trading at a price of 107.00-107.50 pre-announcement, say bankers following the deal. The Ba2/BB+ borrower’s books topped $800m within 60 minutes of an

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