BanBog jumps on Colombia scarcity value

By Oliver West
27 Jul 2017

Colombia’s second largest lender Banco de Bogotá timed to perfection its return to international bond markets on Thursday, taking advantage of low levels of new issue supply from the jurisdiction so far this year to price a $600m 10 year senior unsecured bond.

Baa2/BBB rated Banco de Bogotá announced initial price thoughts of mid to high 200bp over US Treasuries for its proposed senior unsecured 2027s, a level that bankers away from the deal believed was very conservative.

The lender has subordinated tier twos due 2026 trading in the low 300bp area, ...

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