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Securitization markets in Colombia

This page updated regularly deals with securitization developments in Colombia. If you have any news or development to contribute to this, please write to me.

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Latest additions:

Last revised: 11th July 2002

Added 21st Jan, 2000 For news about securitization of future flows by Fedcafe, click here

 

State of the Market:

Colombia is looking at securitisation with a lot of optimism.

In 1997, Empresa Colombiana de Petroleos (Ecopetrol), the state-owned oil company in Colombia, issued securities backed by the future sales of crude oil. This transaction reflects a trend resulting from the region's turnaround: the willingness of investors to take on more risk than they had previously been willing to accept.

Legal initiatives:

In accordance with the recommendations of the National Council for Economic and Social Policy in Document No. 3019 dated November 12, 1998, the Government issued on February 8, 1999 Decree No. 241 pursuant to which the restrictions imposed by the Colombian Foreign Investment Statute (CONPES Resolution No. 51 of 1991) regarding foreign investment in real estate were lifted. The decree enables foreign investors to invest in real estate securitizations originating from the country. The passing of this law is considered to be a significant step in creating market for securitization in Colombia.

Text of Mortgage securitization decree:

Please our securitization laws section

 
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