Colombian Bank Upsizes Local Tap

Colombia’s Helm Bank has sold COP300bn ($148m)in 4 series of domestic bonds after upsizing from COP200bn on the back of COP920bn in demand. Pricing came well within maximum levels set by the issuer in advance of the sale. A COP49bn 3-year fixed-rated tranche pays 6.19%, versus the 6.60% maximum set pre-sale. A COP51bn 3-year meanwhile pays the IBR rate plus 1.29%, well short of the 1.90% cap. A COP116bn 5-year priced at IPC plus 4.02% (4.60% maximum) and a COP84bn 10-year piece pays IPC plus 5.04% (5.70%). Helm’s brokerage was lead manager on the sale, rated AA+ on a national scale, joined by 8 other brokerages. Helm says this issue is part of a plan to issue up to COP1.5trn in bonds over the next 5 years. Other banks on the deal were Alianza Valores, Corredores Asociados, Correval, Davivalores, Interbolsa, Serfinco, Ultrabursatiles and Valores Bancolombia.