GNB bonds drift lower as Moody’s warns on Paraguay exposure

Bonds issued by Colombian financial holding company Gilex and its subsidiaries widened on Tuesday as the lender’s proposed acquisition of BBVA’s Paraguayan bank triggered a downgrade review from Moody’s.

  • By Oliver West
  • 14 Aug 2019

Gilex’s senior unsecured 8.5% 2023s were spotted around half a point lower on the week at 107.75 on Tuesday, yielding just above 6%. 

The group is a vehicle through which Colombian billionaire Jaime Gilinski owns lender GNB Sudameris, which is headquartered in Colombia but also operates in Colombia, Peru ...

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