EPM Plots Debut International Syndication

Colombian energy company, Empresas Publicas de Medellin (EPM) is preparing a $275m A/B loan, marking its first foray into the international syndicated loan market, say market participants. The company will hold bank meetings in New York on Monday and Tuesday and will launch this week. The A loan from the IFC is for $25m, while the B loan will have a $250m size and comprise 5 and 7-year tranches. The company has yet to mandate international banks on the B portion. The loan is rated AA3 by Moody’s and BBB- by Fitch. Proceeds will go towards investments in energy and water distribution. EPM in January raised COP1.25trn ($679m) through a global 10-year peso bond priced to yield 8.5% after generating some $1bn in orders.