Colombian state-run utility firm Empresa de Energia de Bogota, or EEB, completed the roll over of $610 million worth of international bonds that were coming due three years from now.
The company bought back existing bonds issued in 2007 that had a 8.75% interest rate and a due date of 2014 and sold $610 million at a rate of 6.125% with a due date of 2021.
Demand for the bonds was 4.7 times higher than the amount offered, EEB said in a statement.
The company also sold this COP772 billion ($409 million) in a secondary share placement in the Bogota bourse earlier this week.
EEB controls several energy utility firms in Colombia and is also moving to expand its operations abroad. The firm already has plans to enter Peru and Guatemala, and is also considering a natural gas transportation business in Chile.
The company’s expansion projects calls for $956 million in new spending starting in 2012.
