ISA Sells $46 Million Inflation-Linked Bonds

Colombia’s largest energy provider, state-controlled Interconexión Eléctrica SA (ISA), raised $46 million via the sale of bonds in the local market. The seven-year, inflation-linked bonds were sold to yield 4.84% above the IPC rate of inflation. The issue, which was managed by Corporacion Financiera Colombiana (Corficolombiana) and Correval was twice oversubscribed. The sale was the fifth tranche of a bond issuance program totaling $350 million, of which ISA has so far issued $243 million-worth of bonds.