July 9, 2020 |
Medellin's city-owned utility company, Empresas Públicas de Medellin(EPM), sold $750 million in a two-part bond sale on Wednesday, according to sources involved in the deal, raising funds to improve its liquidity position during the COVID-19 crisis.
The utility company sold $575 million worth of 3031 new notes and added COP635.5 billion ($175 million) to its 8.375% 2027 notes, the source said. The deal settles on July 15.
The new 3031 dollar-denominated notes priced at 98.952 with a coupon of 4.
City-owned Colombian utility raises $750 mln to strengthen liquidity position amid the COVID-19 outbreak