Codensa Places Well Bid Domestic Bond

Codensa has raised COP275bn ($143m) in Colombia’s domestic bond market, according to people following the sale. The electric distributor priced a COP166.4bn 2018 tranche at IPC+3.92, inside a 4.40% limit, and a COP108.6bn 2025 portion at IPC+4.80%, inside a 5.40% limit. Total demand reached COP900bn. Codensa is raising proceeds to pre-finance upcoming bond maturities. Corredores Asociados, Bancolombia, Correval and BBVA managed the deal, rated AAA on a local scale.