Colombia international bonds rise after debt repurchase deal
NEW YORK, Sept 5 (Reuters) - Colombia's international dollar bonds rallied on Friday after a group of banks announced the results of a deal to repurchase some $5 billion of debt.
The 2035 issue gained roughly 2 cents to trade at 107.41 cents on the dollar.
Colombia's finance ministry is looking to reduce its debt costs due to a deterioration in the South American nation's public finances, including via debt swaps and repurchases of both foreign and domestic debt.
The banks, including BNP Paribas, Citigroup, Goldman Sachs, JPMorgan said the aggregate principal amount purchased was $5.44 billion, with an aggregate purchase price of $4.6 billion, indicating a discount over face value.
In July, the finance ministry said it was seeking around $10 billion through the operation, though the results would depend on how much debt the current bondholders agreed to sell to the banks.
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