Colombia

Canadian-Colombian oil company Pacific Exploration & Production has raised $500m of debtor-in-possession (DIP) financing from certain existing bondholders and private equity firm Catalyst Capital as it looks to wrap up a restructuring of its debt, including $4bn of bonds.

Canadian-Colombian oil company Pacific Exploration & Production has raised $500m of debtor-in-possession financing from certain existing bondholders and private equity firm Catalyst Capital as it looks to wrap up a restructuring of its debt — including $4bn of bonds.

Mexican real estate investment trust Fibra Uno and Colombian state-owned oil company Ecopetrol reopened existing dollar notes on Wednesday to take advantage of euphoric conditions in Lat Am bond markets.

Peruvian power generation company Kallpa Generación could become the latest Latin American company to sell debt as corporate issuance in the region goes through a relative revival.

Lat Am DCM bankers had held hopes that FDN itself would tap international bond markets this year, but with the proceeds from the sale of state energy company Isagen set to be used to provide the development bank with nearly $1bn of regulatory capital, these plans have been postponed.

The CEO of the Colombian development bank in charge of leading financing for the country’s flagship 4G infrastructure programme told GlobalCapital he was upbeat about progress as he revealed a second international bond related to the programme was in the works.

EIG Global Energy Partners is unlikely to succeed in its second bid to acquire Colombian-Canadian oil firm Pacific Exploration & Production, according to bondholders that have already signed up to a restructuring with private equity firm Catalyst Capital.

Banco de Bogotá’s new subordinated bonds closed higher in the grey market on Monday after the Colombian bank offered a hefty new issue premium that left investors who liked the issuer chuffed at the fact the deal had come on a tough day.

Dutch bank ING is to expand its presence in Colombia as it looks to take advantage of the South American country’s vast infrastructure needs.

Latin American development bank Corporación Andina de Fomento (CAF) is expected to rake in a substantial order book for its first dollar benchmark in over a year, according to bankers close to the deal.

Colombian lender Banco de Bogotá is looking to issue up to $1bn of tier two 10 year notes, although Moody’s said that the bonds will do little to address the bank’s low capital ratio.

Grupo Sura, the owner of the largest pension fund in Latin America and the largest bank in Colombia, raised $550m of 10 year senior unsecured bonds on Tuesday as Latin American high grade corporates finally took advantage of a receptive market.