Colombia’s $1.5 billion USD in 2029 bonds have been rated at BBB by New York-based credit rating agency Fitch Ratings.
The bonds, which mature on March 15, 2029, were issued on October 3 and have a coupon of 4.5%.
The bond issuance was made to fund governmental liability management transactions and for general budgetary purposes, as characterized by the big three credit rating agency. This included roughly $312 million to purchase outstanding notes due 2019 with a 7.4% coupon.
The company’s rating for the bonds match its BBB long-term, foreign-currency issuer default rating (IDR) for the nation of Colombia, which it affirmed in May.
“The bond rating would be sensitive to any changes in Colombia’s long-term, foreign-currency IDR,” said Fitch in a statement.
Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, and J.P. Morgan Securities LLC served as joint book-running managers for the bond offering.