Emgesa To Issue $76.5 Million Bonds

Colombian power generating company Emgesa, part of Spain’s Endesa, is to issue $76.5 million worth (170 billion pesos) of local bonds according to the company. The proceeds raised from selling the 10-year bonds will be used to pay down existing debt. Emgesa offered to pay investors a maximum yield of the consumer price index plus 5.30 percentage points. Citigroup in Colombia will handle the sale.