By Aaron Hochman-Zimmerman
New York, Jan. 6 - The Republic of Colombia priced a $1 billion 10-year senior fixed-rate bond at 99.136 with a coupon of 7 3/8% to yield 7½% (Ba1/BB+/BB+), according to a market source.
The deal priced at a spread of Treasuries plus 502.9 basis points.
Barclays and Morgan Stanley acted as bookrunners for the registered bonds, which will mature on March 18, 2019.
Proceeds from the sale will be used for general budgetary purposes.
Issuer: Colombia
Issue: Senior fixed-rate bonds
| Amount: | $1 billion
|
| Maturity: | March 18, 2019
|
| Bookrunners: | Barclays, Morgan Stanley
|
| Coupon: | 7 3/8%
|
| Price: | 99.136 |
|
| Yield: | 7½%
|
| Spread: | Treasuries plus 502.9 bps
|
| Pricing date: | Jan. 6
|
| Settlement date: | Jan. 11
|
| Distribution: | Off shelf
|
| Ratings: | Moody's: Ba1
|
| Standard & Poor's: BB+
|
| Fitch: BB+
|
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