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Colombia public utility company EPM issues $764 mln in bonds
November 1, 2017 / 2:56 PM / 20 days ago

Colombia public utility company EPM issues $764 mln in bonds

BOGOTA, Nov 1 (Reuters) - The public utility company owned by the Colombian city of Medellin has issued 2.3 trillion pesos ($764 million) in bonds on the international market in a bid to pay dollar-denominated debt, the company said.

The Empresas Publicas de Medellín (EPM) bonds come due in 10 years and have a yield of 8.375 percent. It is the largest ever sale of bonds denominated in Colombian pesos on the international market.

Sixty percent of the bonds were purchased by international investors, while the remaining 40 percent went to buyers in Colombia.

“Thanks to this issue we have been able to do an important operation in the management of our debt,” EPM’s general manager, Jorge Londono, said in a statement late on Tuesday.

EPM is the largest public services provider in Colombia and includes electricity, water and telecoms services.

$1 = 3,039.19 Colombian pesos Reporting by Nelson Bocanegra; Writing by Julia Symmes Cobb; Editing by Bill Trott

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