TGI Notes demand exceeded six times the offer
Bogotá, Colombia, 16 March 2012
Bucaramanga, 15 March 2012. With a total demand amounting to US$4,8 billion that exceeded 6.4 times the amount offered, Transportadora de Gas Internacional S.A. ESP., carried out today an international notes issuance amounting to US$750 million. These resources will be used to substitute the international notes issuance that the Company had issued in 2007.
These securities have a 10 year maturity, expiring in 2022 and will pay in arrears interest every six months. Leading banks in charge of this process were Citigroup and Credit Suisse.
The closing rate of the new issuance was 5,70% , which is historically low for a Colombian corporate issuer, as it is only 343 basic ponts above the US Treasury reference rate and 242 basic points above the closes reference to Colombian sovereign notes.
This substitution of foreign debt will represent annual savings on interest payments of US$28.5 million.