Colombia wraps LM to get ahead of uncertainty

Bogota, Colombia, CAF, covid-19, 575, downtown, centro
By Oliver West
15 Jan 2021

Colombia’s public credit head told GlobalCapital that the sovereign had wanted to move quickly to get ahead of potential volatility as it printed $2.84bn of new bonds this week as part of a liability management operation. The official said that the early-year sell-off in US Treasuries had not tainted what was a strong issuance window.

“This week was a favourable window because our spreads had been nearing recent lows in both the 10 and 30 year parts of the curve,” said César Arias, director of public credit at the finance ministry. “A second factor was the recovery in oil prices, which is traditionally ...

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