Titularizadora Colombiana Plots RMBS

Titularizadora Colombiana plans to sell COP323.3bn in mortgage-backed securities on March 12. A COP2276.9bn 2018 senior tranche will price through an auction, while a COP68.2bn 2023 senior tranche will pay 11.5%. Both have a AAA local rating from Duff & Phelps Colombia. A BBB plus-rated COP24bn 2023 B tranche will pay 12.5% and a BBB minus-rated COP3bn 2023 mezzanine tranche is to pay 13%. The notes will be backed by more than 3.2m mortgages originated by Banco Davivienda and Banco Colpatria Red Multibancaria.