The Ministry of Finance and Public Credit announced that it has completed a public debt management operation with the institutions that are part of the Market Makers Program, amount that amounted to $2.6 billion.
(The 15 entities designated as market makers by 2022).
Said operation, as explained by the portfolio, consisted of exchanging TES maturing in 2023 for bonds maturing in 2025 and 2035 denominated in UVR and in 2042 denominated in pesos.
“The swap we carried out today attracted offers from a wide range of institutional investors, which allowed us to extend the average term of our local debt and reduce bond amortizations next year by $2.6 trillion, under competitive market conditions”highlighted the Minister of Finance and Public Credit, José Manuel Restrepo.
(With a debt swap, Colombia reduces amortizations by $1 billion).
For his part, César Arias, Director of Public Credit and National Treasury, explained that the foregoing is added to the two tranches of swaps carried out with the portfolio managed by the General Directorate of Public Credit and National Treasury, for $2.3 billion in March and $2.6 billion in April 2022.
With this operation, the average life of the TES portfolio went from 9.29 to 9.33 years, while the average coupon cost decreased from 9.39% to 9.38%.
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