Bancoldex Sells $42 Million Local Bonds

Colombia’s state-controlled Bancoldex has raised $42 million via the sale of local-currency notes. The bank sold the bonds at a yield of 8.29% with a 31-month maturity. The notes are the third tranche of a larger debt issue, totaling $420 million. The company is still due to issue $211 million of the debt paper, which will be sold before the end of this year or next. The notes are rated AAA by Duff & Phelps Colombia. Bancoldex is a mixed economy public limited company, attached to the ministry of foreign trade.