BBVA Colombia Sells Local Bonds

Foreign-owned BBVA Colombia is planning to place local currency bonds worth $4.7 million today, Monday. The five-year bonds will offer a maximum annual interest rate of inflation plus 5.2%. The bond issue, rated AA+ by Duff & Phelps de Colombia, is part of a larger debt issuance program worth $166.8 million in total, approved earlier this year by the Bank’s shareholders.