Grupo de Inversiones Suramericana’s $300 million bond priced a 5.7% coupon at 99.354 to yield 5.786% (US treasuries plus 260 basis points) on the back of $4.7 billion of demand last month.
Suramericana was the first Colombian corporate to access the international bond markets after the sovereign’s lift to investment-grade status. In a region that is becoming accustomed to blow-out deals it still managed to get attention.
The deal achieved an oversubscribed order book within an hour of announcing terms.
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