Ultracem issues local notes

Ultracem issues local notes

Corporate & Sovereign Strategy Bonds Debt Fixed Income Colombia Capital Markets

Colombian cement company Ultracem sold COP77.5 billion ($20.9 million) worth of five-year notes in the local market at a fixed interest rate of 9% on Monday, according to the BVC stock exchange in Bogotá. Ultracem had initially offered COP100 billion, adding that it could increase the size of the deal to COP120 billion to meet demand. Earlier this month, Ultracem had registered the proposed sale of COP150 billion worth of five-year peso-denominated bonds with backing from the national guarantee

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