Since 2017, The Company explore different alternatives aimed at achieving financial flexibility for the Company; including the issuance and placement of debt securities in the public securities market to optimize the cost of the debt, if necessary by replacing bank debt.
In accordance with the unique circular of the Colombian Stock Exchange - BVC, the presentation and notices of the repositioning of the 2018 papers are published.
On December 21, 2017, the Board of Directors of the Company approved to authorize the administration to explore different alternatives aimed at achieving financial flexibility for the Company; including the issuance and placement of debt securities in the public securities market.
In compliance with the relevant decision and through Resolution 0304 of March 8, 2018, the Financial Superintendence of Colombia authorizes the registration in the National Registry of Securities and Issuers of the commercial papers to be issued by Construcciones El Cóndor S.A.
Below we share the files referring to the issuance and placement of current commercial papers:
| Year | Amount (million of pesos) | Rate | Rating |
|---|---|---|---|
|
Issuance 2018 - Serie A 364 days Issuance 2018 - Serie E 330 days |
$114.050 $185.950 |
5,49% EA IBR+ 1,14% NMV |
Spanish version |
|
Issuance 2019 - Serie A 120 days Issuance 2019 - Serie A 358 days |
$150.000 $100.000 |
4,99% EA 5,54% EA |
Spanish version |
| Current rating (May 2019) | F2+ (col) Fitch Ratings Spanish version |
