Colombia’s EEB Sells $610m Bonds

Colombian utility Empresa de Energia de Bogota has priced a $610m 2014 NC4 senior unsecured bond issue at par to yield 8.75%. The deal came in the middle of an expected $500m-$710m range, and tight to 9% area guidance. The book size was $2.9bn, according to bankers on the transaction. Proceeds will help repay $1.5bn in debt used to acquire Empresa Colombiana de Gas in December. ABN AMRO was sole bookrunner, with BBVA, Calyon and Mizuho as joint lead managers. Fitch rates the bonds BB.