Colombia's Aval prices through guidance

Colombia, peso, LatAm, currency, note, bill, FX
By Oliver West
29 Jan 2020

Colombian financial conglomerate Grupo Aval found idyllic conditions on its return to international bond markets on Tuesday after an eight absence, offering a minimal concession to existing notes issued by its largest subsidiary.

Citi, HSBC and JP Morgan had led Ba2/BBB- rated Aval’s roadshow between January 22-27 and, despite a quiet day for US bond markets on Monday, set initial price thoughts of low 300bp over US Treasuries for a 10 year senior unsecured deal first thing Tuesday.

This ...

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