EPM Hits Road Trailing Oil Cousin

Colombia’s Empresas Publicas Medellin has opted to follow compatriot Ecopetrol into the DCM market and fit in a jumbo offering before the summer hiatus. The utility was set to begin investor meetings in New York today, visiting the US west coast by the end of the week, London Monday, and finishing in Boston on Tuesday. A 10-year $500m plus offer is expected. Proceeds are expected to fund future acquisitions, as the BB+ rated utility looks to expand in Colombia and throughout the Latin America. JPMorgan and Bank of America-Merrill Lynch are managing the sale.