On October 22 the Ministry of Finance started a program to swap public bonds and modify the country’s internal debt maturity profiles. This means that TES Class B Treasury Securities issued by the Executive Branch, through the entities participating in the Market Makers Program, will be renegotiated. Citibank is included in this Program. The swap is set to finish on October 26. 

The swap will be carried out in accordance with the provisions of Article 2.2.1.1.3 of Decree 1068 of 2015, about not increasing the Nation’s net indebtedness and helping to improve the public debt profile. The Executive will receive securities maturing in 2021 and peso-denominated securities maturing in 2022, in exchange for securities maturing in 2027, 2029, 2033, 2035 and 2037 and peso-denominated securities maturing in 2027, 2032 and 2034. 

All interested national and foreign investors may participate in the negotiation through the following entities: Citibank; BBVA Colombia; Bancolombia S.A.; Scotiabank; JP Morgan Corporación Financiera S.A.; Banco Davivienda S.A.; among others.