Bancolombia Raises COP Bond

Bancolombia has sold COP800bn ($450m) in 5 series of new domestic bonds, exercising the maximum COP200bn overallotment after demand hit COP2.03trn. A COP246.12bn 2013 tranche pays the IBR+1.58%, a COP87.65bn 2014 pays IBR+1.70%, a COP100.56bn 2018 pays DTF+4.05%, a COP117.63bn 2021 pays DTF+4.25%, and a COP248bn 2026 pays DTF+4.60%. All 5 types came inside of the maximum spreads by 12-30bp thanks to high demand. Bancolombia managed the sale, rated AAA on a national scale. Thus far in 2011, the local bond issuance in Colombia has come almost entirely from the financial sector, and more is on the way. Helm Bank (COP200bn), Banco Falabella (COP150bn) and Banco Finandina (COP60bn) are all planning deals that should price in August.