Colombian Financials Ready Domestic Bonds

Colombian mortgage securitizer Titularizadora Colombiana and state-owned development finance agency Findeter each plans to sell bonds in the local market next week, according to broker Correval, a bookrunner on both. Findeter plans to sell COP250bn ($97m) in credit deposit notes with maturities of 18 months to 5 years, priced at spreads to DTF and IPC. The AAA issue is set for March 11. Titularizadora plans to sell COP150bn in 10-year fixed-rate bonds backed by a portfolio of mortgages, in a sale expected March 12. Inflation stood at 7.18% in January on an annualized basis. The government’s target is 4.5%-5.5%.