Banco de Bogota Upsizes COP Bonds

Colombia’s Banco de Bogota has priced COP223bn ($109.9m) in 2014 bonds, reflecting strong demand for what was set to be a COP200bn sale. A floating-rate tranche priced at 700bp over the IPC and another came at 300bp over Colombia’s benchmark DTF. A third tranche denominated in the UVR inflation-linked unit priced at a fixed 7%. Proceeds go towards the bank’s capital base. The transaction is rated AA+ by Duff & Phelps Colombia, and managed by Banco de Bogota’s own capital markets unit.