Sura draws heavy interest for local sale amid TES rally

Sura draws heavy interest for local sale amid TES rally

Bonds

Grupo Sura raised COP650bn ($339m) in a heavily subscribed four-tranche bond sale in the Colombian market on Wednesday. The financial institution sold a COP103bn 2019 that pays 3.24% over the IPC, a COP223bn 2023 at 3.8% over the IPC, a COP100bn 2030 at 4.15% over, and a COP223bn 2016 at 1.2% over the interbank rate. Demand topped COP2trn. The deal came at a good moment for Colombians to tap the local market given falling yields on TES — local treasury bonds — said Credicorp analysts in a resear

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