Colombian Utility Places Local Bonds

Colombian utility Empresas Publicas de Medellin has sold COP250m ($111m) in 3 and 10-year bonds. It placed COP138.6bn in 2019 bonds initially paying 5.80% and linked to the IPC inflation rate. EPM also sold COP36.7bn in 2012s initially paying 1.49% and linked to DTF rate. IPC stood at 191.63 Thursday, and the DTF 9.62%. A COP74.7bn tranche of fixed-rate 2019 bonds meanwhile priced at 10.80%. Demand reached COP573.6bn for the notes rated AAA on a national scale, says the issuer. Citi managed the sale. EPM plans to use proceeds to help fund COP1.8bn in 2009 investment needs.