LatinNews Regional Monitor: Andean Group - 05 October 2018

* Colombia’s finance ministry (Minhacienda) has announced that it has successfully placed US$2bn in sovereign bonds in international markets. This is the largest bond issue in Colombia’s history according to Minhacienda. The ministerial statement explains that the operation consisted of two separate bond issues: the issue of US$1.5bn worth of a Bono Global 10-year bond expiring in 2029 and offering a yield of 4.57% and the reopening of a previous bond issue due to expire in 2045 for a value of US$500m, which offered a yield of 5%. Minhacienda celebrated the fact that the bonds were oversubscribed with total demand for the bonds reaching US$9.7bn, as over 300 institutional investors took part in the transaction. According to Minhacienda, the funds raised by the bond issue will be used to help finance the government investment plan included in the 2019 national budget and to restructure part of country’s foreign debt expiring next year.  

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