EPM Generates Healthy Bid

Colombia’s Empresas Publicas de Medellin (EPM) has sold COP367bn ($188m) in domestic bonds, it says, getting more than COP925bn demand. The utility sold COP42bn in 2018 bonds at IPC+3.82%, COP96bn in 2023s at IPC+4.52% and COP229bn in 2033s at IPC+5.03%. EPM plans to use proceeds from the sale for investments, including in the $5.3bn Ituango hydroelectric generation project expected online in 2018. Credicorp and Corredores Asociados led the deal, rated AAA on a national scale. More Colombian issuance is on the way before the end of the year, with Banco Davivienda and generator Celsia scheduled to price next week.