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Colombia Issues $1.5 Billion (USD) Bonds At Record Low 5% Rate

by Loren Moss
January 21, 2015
Comment: 0

The bonds, due in 2045, have a 5% coupon, the lowest rate that Colombia has achieved to date.

The Ministry of Housing and Public Credit, Minhacienda, completed a successful bond offering today of $1.5 Billion (US), though there was $5 billion worth of demand from 244 institutional bond buyers from throughout the USA, Europe, Asia, and in Latin America.

Minister Mauricio Cárdenas said regarding the issuance, “Its excellent news that reflects renewed investor confidence in the Colombian economy. Its recognition of the flexibility and capacity to adapt our economic policy in light of the volatility of international commodity prices.”

A year ago, Colombia reached a record low 5.6% interest rate on its long bond offering. This rate of 5% breaks that record. A further testament to the nation’s creditworthiness is the oversubscription of $5 billion exceeding the $4.2 billion oversubscription of a year ago.

 

Issuer Republic of Colombia
Issue valuation USD $1.5 Billion
Maturity 15 June, 2045
Coupon 5.000%
Payment Period Biannual
Yield 5.064%
Price 99.018
Spread over Treasury Bonds 262.5 basis points
Benchmark US Treasury 30 year Long Bond
Benchmark Rate 2.439%
Issue Date 28 January 2015
Call Options “Par Call”   6 months before maturity“Make – Whole” US Treasury + 40 basis points
Legal jurisdiction USA, New York
Custodian DTC
Structure Payment of principal upon maturity
Bankers J.P. Morgan Securities LLC y Morgan Stanley & Co. LLC

 Boletín / Comunicado

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Loren Moss
About the Author
Loren Moss is the founder and publisher of Finance Colombia. He has over 20 years of international business experience, including over a decade of experience in securities, insurance, and commercial real estate, at the institutional and international level.
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