Bancolombia Leasing Grows Bond Issue

Bancolombia Leasing has issued COP400bn ($207m) of local bonds in 5 tranches, says treasurer Monica Sanchez, adding that total demand surpassed COP700bn. A COP130bn 2-year piece paid DTF plus 1.20%, a COP86bn 3-year pays IPC plus 3.25%, a 5-year piece paying IPC plus 4.17% raised COP32bn, a 10-year piece paying IPC plus 5.40% sold COP58bn and a 5-year piece paying a fixed rate of 9.20% sold COP94bn, Sanchez says. Company CEO Luis Fernando Perez tells LatinFinance that originally the issue was going to be of COP300bn, but that the company decided to upsize the issue after seeing investor demand was high. He explains that this is the fifth issue from a plan to issue a total of COP1.5trn and that only one more issue worth COP200bn is pending. No date has been set for that issue, he says. Proceeds of the AAA rated deal will be used to acquire more assets to add to its leasing portfolio. Bancolombia’s investment bank managed the sale.