Titularizadora Places RMBS

Colombian mortgage securitizer Titularizadora Colombiana has sold COP195bn ($79m) in RMBS in the domestic market. The shop priced the 2019 bonds at a fixed rate of 9%, after a sale process in which the notes rated AAA on a national scale were 1.8x oversubscribed. Titularizadora now awaits today’s placement of the remainder of the COP505bn issue, set to include some COP150bn in additional 2019s, COP120bn in senior-level 2024s, and COP47bn in 2024 subordinated debt. Correval is managing the transaction. More than 7,000 mortgage credits, originated by Bancolombia, Davivienda and BBVA, back the securities.