Transelca Approves Bond Issue

Colombian electricity provider Transelca, owned by state-controlled electricity distributor Interconexión Eléctrica SA (ISA), is to issue bonds worth up to 150 billion pesos or the equivalent in dollars ($69 million) to be placed either in the domestic market or in international markets. ISA took control of Transelca, which serves Colombia’s Atlantic coast, earlier this year after exchanging Ecopetrol’s 34.99% holding for a 5.78% stake in its capital. ISA was partially privatized in 2000 and has become a key regional player in the sector, expanding into Panama, Peru, Ecuador, Bolivia and Brazil.