Transmilenio Bonds See Demand

Colombia’s public transportation management company Transmilenio has issued COP130bn ($70m) equivalent in 2016 UVR-denominated bonds at 4.64%. Demand for the AAA rated notes was COP200bn, says a banker on the deal. Proceeds will be used to finance the development of the third phase of Transmilenio’s public transportation system, expected to take around 25 months to complete. Citivalores was lead manager with Alianza Valores as placement agent.