Banco de Bogota Selects Banks

Banco de Bogota, Colombia’s second largest lender, has selected Citi, HSBC and JPMorgan for an international bond sale, CFO Maria Luisa Rojas Giraldo tells LatinFinance. Last year, the mandated banks provided the bank with a $1.2bn 1-year bridge loan to help acquire BAC – Credomatic, a sizable Central American bank that represents half of Banco de Bogota’s assets. Giraldo says the bank is estimating an October issuance for its debut $1bn 10-year bond to replace the bridge loan, if market conditions permit. Moody’s has assigned a Baa2 rating with stable outlook to the proposed $1bn 10-year bond. This would be the bank’s debut USD bond issuance.