Chicago, July 27 – Empresas Publicas de Medellin ESP sold a dual-currency issue (Baa3//BBB) in both dollars and Colombian pesos.
The issuer sold $575 million 4 3/8% senior notes due Feb. 15, 2031 and COP 635,519,500,000 8 3/8% notes in a reopening of an issue with a maturity of Nov. 8, 2027, according to information on the company’s website.
Proceeds were expected to be used for general corporate purposes, including strengthening the company’s liquidity position in light of the Covid-19 outbreak.
The issue was authorized by the Ministry of Finance and Public Credit on July 6.
The issuer is a Medellin, Colombia-based public services company.
| Issuer: | Empresas Publicas de Medellin ESP
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| Issue: | Dual-currency notes
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| Issue date: | July 8
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| Ratings: | Moody’s: Baa3
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| Fitch: BBB
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| Distribution: | Rule 144A and Regulation S
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| Dollar notes
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| Amount: | $575 million
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| Maturity: | Feb. 15, 2031
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| Coupon: | 4 3/8%
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| COP notes
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| Amount: | COP 635,519,500,000 (reopening)
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| Maturity: | Nov. 8, 2027
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| Coupon: | 8 3/8%
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