Chocolates Cooking Colombian Issue

Colombia’s Grupo Nacional de Chocolates plans to sell a domestic bond in the next few months. Details remain to be finalized, a GNC finance official tells LatinFinance, but the issue is expected to be COP500bn ($239m). It would be sold following Colombian regulatory approval, which should be in mid-August. Bancolombia has been hired to manage the process. In its last DCM foray, GNC sold $40m-equivalent in “Inca” bonds in Peru’s market in July 2008.