NEW YORK, Jan 21 (IFR) - The Republic of Colombia is set to raise US$1.5bn through the sale of a new 30-year bond on Wednesday, according to market sources.
The sovereign launched the transaction at a spread of 262.5bp over US Treasuries, tight to guidance of 265bp area (+/- 2.5bp) and initial price thoughts of 280bp area.
Proceeds will be used for general budgetary purposes.
JP Morgan and Morgan Stanley are the bookrunners on the transaction, which is expected to price later today. (Reporting by Davide Scigliuzzo; Editing by Marc Carnegie)