Colombia sells local securities worth $6 bln to foreign investor

BOGOTA, Dec 19 (Reuters) - Colombia has conducted a direct sale of local TES bonds worth 23 trillion pesos ($5.94 billion) with a foreign investor, the finance ministry said on Friday.

The sale will reduce the country’s financing needs for 2026, the ministry said in a statement, adding that it could be the first of several such transactions with the investor, who sees Colombia as having positive economic prospects and solid institutions.

Javier Cuellar, public credit director, told Reuters on Tuesday the government would implement a new system for selling domestic public debt as part of its debt management strategy.

Cuellar said private sales of TES bonds would reduce the need for auctions and placements with state entities, easing pressure on market supply.

He added that he expects to carry out many debt management operations in local and international markets in 2026, before the current administration ends, including potential forays into new markets such as Asia.

TES bonds are Colombia's second-largest source of domestic financing for public spending after tax revenue.

($1 = 3,874.71 Colombian pesos)