The Colombian government carried out its first peso-denominated TES bond auction Wednesday, with demand four times higher than the amount sold.
The yield on the TES due 2014 stood at 6.499%, the Finance Ministry said in a statement. TES bonds due 2018 yielded 7.689% and TES bonds due 2024 carried a 8.062% yield. The total amount sold stood at COP400 billion ($214 million), while total demand came in at COP1.8 trillion.
Demand for TES has been high on expectations that Colombia could soon receive a coveted investment-grade rating for its debt.
(Darcy Crowe / Dow Jones Newswires)
