Comcel To Sell $66 Million Commercial Paper

Colombian cell phone operator Comunicación Celular (Comcel), part of Mexican operator América Móvil, is to issue $66 million worth (150 billion Colombian pesos) of commercial paper today, Tuesday. Comcel offered to pay a maximum yield on the 90-day paper of 7.9%. The bond sale will be led by BBVA. The offering is part of a larger debt issuance program totaling $438 million (1 trillion Colombian pesos). Last month Comcel sold $42 million worth of 45-day paper in the local market.