Republic of Colombia

  • 15 Sep 2005
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Rating: Ba2/BB/BB
Amount: $500m (fungible with $500m issue launched 13 January 2004
Maturity: 21 May 2024
Issue price: 103.75
Coupon: 8.125%
Spread at launch: 323bp over the 4.25% August 2015 UST
Launch date: Thursday 15 September
Payment date: 21 September
Joint books: Goldman Sachs, Merrill Lynch
Note: the borrower is buying back $497.4m and Eu165.5m of bonds maturing between 2006 and 2033

Market appraisal:

"...it went well. As one would expect."

"...people were confused. They go out and tender for existing bonds and buy back some 2033s and then they go out and tap the 2024s.

It would make sense if they bought back just shorter-dated bonds, but by buying back the 2033s people were saying 'why?'"

  • 15 Sep 2005

All International Bonds

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 JPMorgan 92.59 388 8.96%
2 Citi 85.30 278 8.25%
3 BofA Securities 63.15 265 6.11%
4 Barclays 58.01 223 5.61%
5 Deutsche Bank 55.74 184 5.39%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 60.87 123 14.06%
2 Credit Agricole CIB 28.59 93 6.60%
3 Santander 25.41 90 5.87%
4 JPMorgan 23.88 61 5.52%
5 UniCredit 21.51 103 4.97%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 2.07 11 10.42%
2 BofA Securities 1.40 6 7.01%
3 Citi 1.37 7 6.87%
4 Morgan Stanley 1.36 6 6.85%
5 JPMorgan 1.31 7 6.59%