Findeter Bags Local Issue

Colombian state-owned development finance agency Findeter has sold COP220.3bn ($109m) in credit deposit notes. It placed COP63.8bn in 2011s at a fixed 6.50%, COP75.0bn in 2012s at DTF plus 1.63%, and COP81.5bn of 2014s at IPC plus 4.38%. Total demand for the AAA rated issue reached COP606.6bn, according to brokers managing the sale. Findeter structured and managed the operation itself. Elsewhere in Colombia’s domestic DCM, Grupo Nacional de Chocolates is set to offer COP500bn today through Bancolombia.