Colombia to swap local debt, amount depends on demand

Colombia will swap its internal public debt due in the next two years in a bid to improve its credit profile without increasing indebtedness, the government said on Wednesday. The operation will take place on Thursday with market participants and its value will depend on demand, the ministry said in a statement. The finance ministry will swap local TES bonds coming due in 2021 and 2022 for paper due in 2027, 2029, 2032, 2033, 2034, 2035 and 2037. Colombia has carried out several swaps in a bid to delay paper coming due as it increases its debt load to meet needs generated by the coronavirus pandemic.

Source: Nasdaq