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Government Sold USD Bonds, Retail & Industrial Confidence Due

COLOMBIA
  • Colombia tapped global markets on Tuesday for the first time in 2023. The government sold $1.8 billion of the 7.5% coupon bonds to yield 7.6%, down from initial price talk of 8%. Part of the proceeds will be used to buy back the country’s global bonds due next year, with coupons of 4% and 8.125%.
    • “Overall, good timing, good market — and ahead of other potential issuers,” said an analyst at BBVA in New York. “Investors have been awaiting more primary activity.” (BBG)
  • Energy and Mines Minister Irene Velez has held a press conference to address comments she made in Davos regarding the nation’s oil and gas reserves.
    • At the WEF, Velez stated that her country’s government remains determined to stop awarding new oil and gas exploration contracts, a clear sign of the commitment in the fight against climate change.
    • She used today’s press conference to stand by a ministry document which states that the nation’s gas resources, including proven and probable reserves, are sufficient to meet domestic demand until at least 2037.
  • Today, both retail and industrial confidence data are scheduled with no survey estimates.

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