Colombia Prefinanced For Next Year

Colombia’s $468.4 million reopening of its 2037 global issue wrapped up financing needs for next year, leaving the sovereign sitting pretty if market conditions deteriorate. The deal also finished up a $2 billion shelf, hence the odd number. According to a banker on it, the tap of the 7.375% coupon paper saw $3.2 billion in orders and at 102.875 to yield 7.142%, came tight to guidance. Some 450 accounts apparently participated. It was heard at 103.65 Wednesday, the day after the reopening. It was helped by strength at the long end of the US Treasury curve. Barclays and HSBC were the leads.