CAF Places COP Bonds

CAF has sold COP240bn ($95m) in fixed-rate bonds on Colombia’s domestic market. The multilateral priced COP112bn in 2014 bonds at 9.60% and COP128bn in 2019s at 10.79%. Total demand exceeded COP300bn, according to bookrunners. The deal is CAF’s third placement in Colombia, and follows a COP240bn sale in December. BBVA managed the sale. CAF is rated A1 on a global scale. The Colombian debt market – LatAm’s most active local forum this year – awaits a COP200bn placement from power grid operator ISA today. The issue in 2 tranches worth some $80m with 6 and 9 year maturities, could grow to $100m equivalent and marks ISA’s first local tap since December. Correval, Citi and Bancolombia are leading that transaction.