Avianca Revs COP Tap

Colombia’s Avianca is preparing to sell COP500bn in bonds on the local market August 20, according to brokers. The issuer may place bonds with maturities of 5, 7, and 10 years, at a spread to the IPC inflation index. Interbolsa is managing the transaction. In what is looking to be a busy month in Colombian DCM, Grupo Nacional de Chocoloates could also bring an up to COP500bn local bond as soon as August 20 through Bancolombia, though the date remains to be confirmed. Others lining up include Bancoldex, with a COP500bn 2011 and 2012 offer set for today, and Findeter, with a COP200bn 2011-2014 sale set for August 19.