EPM Seeking New A/B Loan

Colombia’s Empresas Publicas de Medellin (EPM) is looking to raise at least $200m through an IFC A/B loan, say people familiar with the matter. Company officials say the terms are still being negotiated, while bankers away from the process suggest the deal has already been floated around to the market. The company is heard seeking a tenor of 5 years for the syndicated or clubbed B portion at a rate at Libor plus 350bp. The IFC may finance up to 15% of the $200m, or put in a $30m ticket, possibly at a tenor longer than 5 years, says a banker. The proceeds are destined for EPM’s many public infrastructure projects, including its Sogamoso hydropower dam project.