Colombia sells $1bn as sovereigns revel in LatAm demand
There have been three Latin American sovereign issues so far in 2013, and in all three the issuers have claimed records have been broken. After Mexico sold its cheapest ever 30 year money two weeks ago and Paraguay secured the tightest ever debut issue for a sovereign (see below), Colombia was encouraged to tap the capital markets for $1bn in 10 year notes on Tuesday.
The sovereign not only sold its tightest ever bond to US Treasuries, but it managed the second tightest 10 year issue from a LatAm sovereign.
Deutsche Bank and Goldman Sachs led the deal for Baa3/BBB- rated Colombia, which attracted a book of $3.081bn for an issue that paid 88bp
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