Colombian Utilities Consider Global Pesos

Colombian utilities Emgesa and Empresas Publicas de Medellin (EPM) are considering the issuance of global peso bonds. Both companies are currently roadshowing. Emgesa is considering issuing $400m equivalent in 10-year global peso-denominated bonds, according to S&P. The bonds would be payable in dollars, the agency says. The company may also do a dollar bond instead, swapping back to COP. The power generation company, controlled Colombian energy company Empresa de Energia de Bogota, is meeting investors in the US and London through Wednesday. Citi and Deutsche are managing that sale, rated BBB minus. Proceeds are expected to be used to help finance construction of the $840m 400MW Quimbo hydroelectric plant. EPM is also meeting bond investors this week and heard considering issuance in both USD and COP, according to investors following the tour. On an officially “non-deal” show, it has not yet defined an amount or maturity. Baa3/BBB minus EPM is also visiting the US and London, finishing Thursday, with BAML and Barclays running that show.