The Republic of Colombia has mandated Goldman Sachs and J.P. Morgan to lead-manage its issue of a bond backed by a rolling credit guarantee from the World Bank, and Salomon Smith Barney may soon be added to the list of managers.

News of the mandates came out sooner than the bankers on the deal wanted when Finance Minister Juan Manuel Santos recently announced that a $1.3 billion bond would be launched within three weeks. This timeline and size seem overly aggressive, according to sources close to the deal, who said a launch is not likely until late February or March at the earliest.

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