GEB waits on local market improvements after seizing dollar blowout

Bogota, downtown, lights, night, capital city, LatAm, GEB, Grupo Energia Bogota, 575, Colombia
By Oliver West
20 May 2020

The president of Grupo Energía de Bogotá (GEB) told GlobalCapital that the issuer’s faith in demand for its bonds had allowed it to tighten pricing sharply on its long-awaited return to bond markets last week, as the company waits for an improvement in domestic market conditions to continue its capital markets activity.

Colombian electricity and gas distributor GEB, which is 65.68% owned by the District of Bogotá, last week raised $400m of 10 year bonds after receiving $4.4bn of orders from more than 290 accounts. This had allowed leads Bank of America and HSBC to tighten pricing from ...

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