Coltel places $ 500 million in ten-year bonds
The operator details that the demand for this latest debt issue has reached 4,000 million dollars
Colombia Telecomunicaciones (Coltel), Telefónica branch in the Latin American country, has successfully closed a ten-year bond issue in the international market worth 500 million dollars (443 million euros).
In a statement, the operator details that the demand for this latest debt issue has reached 4,000 million dollars (3,543 million euros), which is equivalent to eight times the amount offered by the company.
Telefónica details that the resources obtained from this operation will be used to replace shorter-term debt, among which is the senior bond (senior unsecured notes) issued by the company on September 27, 2012.
In this regard, they recall that on May 12 they notified the market of the “irrevocable partial redemption” of up to 320 million dollars (283 million euros) of said senior bond and that on June 12 he made his payment.
The Director of Finance and Management Control of Telefónica Colombia, Elena Maestre, has indicated that the resources obtained with this placement will allow the company to advance in its process of substitution of financial liabilities and improve its maturity profile, “also achieving very favorable conditions convenient.”
Source: dpa
