May 22, 2014
Titularizadora Colombiana sold a COP135.6bn ($71m) RMBS in Colombia’s local market on Wednesday, pricing it to yield 6.79%. Institutional investors drove the book, which was close to 30% oversubscribed. The series A paper has a 10-year tenor and 3.11-year average life. Two subordinated series together worth COP18.1bn were retained by the originator.
This deal is the first backed by loans originated and administered by Colombia's national savings fund (FNA), an organization that manages pension
Structured Finance: Titularizadora Colombiana sells local RMBS