Colombia issued USD1 billion in bonds with a 5.125% interest rate, completing its 2021 financing program and part of next year plan, the nation’s Finance Ministry said in a public statement.

The transaction, completed via the reopening of the 2049 bond, got a bid-to-cover ratio of 4.2, meaning the offer received a demand from investors of USD4.2 billion, according to the ministry.

Of the total amount obtained in the transaction, USD600 million will help to finance Colombia’s 2021 budget, while USD400 million will be used towards 2022’s.