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New USD Benchmark Deal Announced Long 10Y Mid 8%s

COLOMBIA
  • New USD Benchmark Deal Announced Long 10Y Mid 8%s
  • The deal is expected to price today and the following details were obtained from Bloomberg:
    • $Benchmark Long 10Y (April 20, 2033) IPT Mid 8%s
    • Issuer: Republic of Colombia; Exp. Ratings: Baa2/BB+/BB+
    • 3-month par call, MWC
    • UOP: (i) In part, for liability management transactions, including the payment of the purchase price for all or a portion of Colombia’s 2.625% 2023 Global Bonds, 4.000% 2024 Global Bonds and 8.125% 2024 Global Bonds on the terms and subject to the conditions set forth in the Offer to Purchase dated November 28, 2022; and/or (ii) for general budgetary purposes
    • Settlement: Dec. 7, 2022 (T+7); Denoms: 200k x 1k
    • Bookrunners: HSBC, Santander, SCOTIA
      • Information from person familiar with the matter.

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