Colombia fills 2014 bond target at long end

Colombia fills 2014 bond target at long end

Bonds

Colombia joined a trend for borrowers to go long, selling a $2bn 30-year bond on Tuesday to yield 5.647% after seeing a narrow curve pick-up for the maturity extension. “The spread between the 30 year US Treasury and the 10-year was at almost its lowest level in three years,” Michel Janna, Colombia’s director of public credit, told LatinFinance. “So the cost of extending from 10 to 30 years was at a good level and we decided to take advantage of that.” The sovereign raised $4.2bn of demand for t

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