Helm Sells Local Bonds

Colombia’s Helm Bank has sold COP300bn ($166m) in domestic bonds, the maximum it was authorized to issue. Other financial issuers were looking to follow soon, but Banco Davivienda’s postponement Monday of a COP300bn-COP500bn ($165m-$275m) bond sale due to come to market on Wednesday has raised some doubts about other issuers in the pipeline. Other banks who are hoping to access the market in the next 3-4 weeks include Banco Falabella, Banco Finandina and Banco de Bogota. Helm opted for 4 of 6 available tranches, after getting an overall demand of COP752bn. A COP89bn 3-year note pays the interbank rate IBR+1.95%, a COP70bn 5-year IPC-indexed bond pays 4.08%, a COP49bn 7-year inflation-linked UVR-denominated bond pays 4.58%, and a COP93bn 7-year IPC-indexed bond pays 4.35%. Helm managed the sale itself, rated AA+ on a national scale.