{
  "id": 18566142,
  "title": "Medellín Utility Sells US$1 Billion of Bonds",
  "url": "https://urgent.news/2026/11/06/medellin-utility-sells-us-1-billion-of-bonds",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-06T20:31:54.000Z",
  "source": {
    "name": "The Rio Times",
    "slug": "the-rio-times",
    "url": "https://www.riotimesonline.com/epm-sells-us1-billion-international-bonds-2033-colombia-2026/"
  },
  "original_language": "en",
  "account": "Empresas Públicas de Medellín (EPM), the utility company owned by the city of Medellín, sold US$1 billion in seven-year dollar bonds on Thursday 5 November 2026 to international investors. The bonds, matured in 2033, drew orders roughly twice the amount offered. EPM stated the funds would bolster its cash position and cover anticipated needs in 2027. The bonds were sold in the international bond market and attracted buyers from the United States, Canada, Europe, Asia, and Latin America. EPM's general manager, John Maya Salazar, expressed that the response indicated backing for the company's business model. The proceeds will enhance liquidity, fulfill medium-term financial needs, and pre-fund requirements expected in 2027. Moody’s, a credit rating agency, noted in May that EPM faces a significant 2027 refinancing tied to a COP4.5 trillion (US$1.40 billion) international bond. EPM's report as of 30 June 2026 revealed COP4.17 trillion (US$1.29 billion) in peso notes outstanding abroad. As of 30 June 2026, EPM had US$1.575 billion in dollar bonds outstanding abroad, along with COP4.17 trillion (US$1.29 billion) in peso notes. The new US$1 billion issue increases this total unless used to repay older debt. Moody’s predicted EPM’s credit metrics to deteriorate in 2026 and 2027 due to rising debt, higher interest rates, and potential El Niño weather conditions. EPM's investor page listed a Baa3 rating from Moody’s, the lowest investment-grade level, with a negative outlook dated 27 October 2026. Fitch downgraded EPM's international rating to BB, a speculative grade, on 22 December 2025. Both agencies gave the same ratings to the new bonds, with a negative outlook indicating a higher likelihood of a rating downgrade. EPM is a public utility group headquartered in Medellín, the second-largest city in Colombia and its sole shareholder. The city relies on EPM's dividends, which Moody’s estimates to constitute about 25% of the city's revenue. The cash position of EPM is crucial to the city's budget. The interest rate and price of the bonds are the remaining open terms. EPM can finalize these terms in its filing with Colombia's financial regulator. It is unknown whether the rating agencies will adjust their outlooks following the bond sale.",
  "summary": "Colombia's EPM sold US$1 billion of seven-year dollar bonds due 2033, with orders about twice the amount offered, to fund liquidity and 2027 needs. The post Medellín Utility Sells US$1 Billion of Bonds appeared first on The Rio Times .",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}