EAAB optimises debt portfolio
- From: Vol 7, Issue 11 (November 2006)
- Category: General
- Region: Americas
- Country: Colombia
- Related Companies: BRC Investor Services
In an inspired move, the Colombian water utility has mitigated foreign exchange risk and extended the duration of its liabilities by issuing “TABs”.
Colombia’s largest water utility EAAB issued the equivalent of $109 million of securities in late October to refinance existing obligations, its first debt sale on local markets.
The so-called “TAB” notes were rated AAA by local agency BRC Investor Services, and were sold in three bullet tranches with 10-,11- and 12-year maturities. Corficolombiana acted as the structuring agent ...
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