Colombia Extends Out Local Yield Curve

Colombia extended out its local yield curve when it sold $138 million of local-currency UVR-linked bonds on Wednesday, achieving a yield of 4.84%. The 16-year bonds mature February 21, 2023, and carry a coupon of 4.75%. Prior to this issue, the longest-maturity Colombian government peso bond was the 2020. The new instruments were snapped up by local pension funds looking for long-term investments.