GNB Sudameris Talks Yield

GNB Sudameris Talks Yield

Colombia Bonds

Colombia’s Banco GNB Sudameris is heard indicating a mid-4.0% yield for a new 2018 senior unsecured bond of up to $300m, according to people following the transaction. Pricing is expected as soon as today, following the end of a three-continent roadshow Wednesday. Pricing references include Davivienda’s $500m 2022 Tier 2 bond, seen at a G-spread level of 353bp, and GNB’s own 2022 Tier 2, at 428bp. A yield of 4.5% for the new bond would indicate a spread of about UST+380bp, based on a 5-year UST

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