Coltel Set for Bond

Colombia Telecomunicaciones (Coltel) has given 5.50%-5.75% yield guidance for a 10-year bond, expected to price today, according to people familiar with the transaction. The issuer is expected to issue $750m in dollars only, after considering a possible Colombian peso-denominated portion during a roadshow that ended Wednesday. With books heard already topping $5bn Wednesday afternoon, Coltel brought in pricing from earlier 6%-area whispers. Credit Suisse, HSBC and JPMorgan are managing the BB sale. The issuer merged its fixed line operations with Telefonica Moviles Colombia in June, and is 70% owned by Telefonica (BBB) and 30% by the Colombian government.