BBVA Colombia Seeks $32 Million

BBVA’s unit in Colombia is hoping to raise up to $32.3 million via the sale of peso-denominated subordinated bonds today, Friday. The five-year bonds will carry an annual interest rate of 5.35% over the IPC rate of inflation. The funds raised will be used for working capital. The bonds are rated AA+ by Duff & Phelps Colombia. Earlier this month BBVA Colombia raised $55 million via the sale of the same notes.