Colombia reopens 12% global TES bonds due 2015 via Dutch auction

By Reshmi Basu

New York, Dec. 14 - The Republic of Colombia is reopening its 12% global TES bonds due 2015 (Ba2/BB/BB) to add up to $250 million, with pricing for the extra debt being set via a modified Dutch auction, according to a prospectus filed with the Securities and Exchange Commission.

The bonds are peso-denominated while principal and interest will be paid in dollars.

Investors were asked to submit proposals indicating a yield higher than the minimum yield of 9.12%.

The offering period was set for 8:30 a.m. ET until 11:30 a.m. ET on Wednesday. Results were set to be announced at late afternoon.

ABN Amro and Morgan Stanley are lead managers for the auction.

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