Colombia fixes rates for World Bank loans

Colombia fixes rates for World Bank loans

Loans Debt Corporate & Sovereign Strategy Economy & Policy Colombia US

Colombia's finance ministry said it converted $4.56bn in World Bank loans to fixed rates from rates based on Libor, cutting its financing costs to the lowest level in three years. The loans now carry average rates that are 38bp below loans that the government received in the third quarter of last year and 46bp below the sovereign yield curve in US dollars, the ministry said in a statement. Colombia had $3.39bn in loans from the World Bank that paid 14bp over three-month Libor. They now carry a f

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