Titulizadora Colombiana Prices RMBS

Colombian mortgage securitization company Titularizadora Colombiana has placed COP207bn ($116 million) in RMBS. A COP148bn 2018 senior tranche priced at 11.15% and saw about COP320bn in demand, according to a Titularizadora official. A COP42bn 2023 senior tranche meanwhile priced at 11.5%. Two 2023 subordinated pieces totaling COP17bn came at 12.5% and 13.0%. The senior debt is rated AAA by Duff & Phelps. The bonds are backed by a portfolio of mortgage loans from Banco Colpatria and Banco Davivienda. Bancolombia, Afin, Interbolsa, Corficolombiana, Banco de Bogota, Correval and Banco Davivienda managed the RMBS sale.