Emgesa has issued COP500bn ($278m) in Colombia’s domestic bond market, upsizing to the maximum amount available. The generation company sold COP300bn in 2022 bonds at IPC+3.52% and COP200bn in 2027 bonds at IPC+3.64%. The issue saw 2.6x demand, a higher level than Gases de Occidente’s issue earlier this week. The company’s solid numbers and the fact that it’s a non-financial issuer could have contributed to the interest in the paper, according to a source following the deal. The proceeds will be used for refinancing intercompany debt and helping to fund the El Quimbo hydroelectric power project. Corredores Asociados, Correval, BBVA and Serfinco managed the sale, rated AAA on a national scale.