Colombia's Ministry of Finance placed 900 billion pesos in short-term Treasury titles (TCO) through a public auction, with a cutoff rate of 13.65% for the one-year reference maturing on March 23, 2027. It received bids totaling 1.3 trillion pesos, 1.5 times the amount offered.
Colombia's Ministry of Finance, headed by Minister Germán Ávila, held an auction for peso-denominated TCO. The one-year reference achieved a cutoff interest rate of 13.65% and matures on March 23 next year.
Bids totaled 1.3 trillion pesos in nominal value, or 1.5 times the 900 billion pesos offered. This indicates strong demand in the Colombian public securities market.
"The TCO issuance program is part of the Nation's strategy to contribute to the development of the domestic capital market, incorporating liquid references in the short end of the yield curve," the Ministry stated.
The outcome underscores the country's high financing costs across the yield curve. Recent TES auctions for one year have exceeded 13%, and 10-year bonds remain at elevated levels.
