Colombian Agency Sells Local Issue

Colombian state-owned development finance agency Findeter has sold COP415.7bn ($170m) in credit deposit notes, on COP674.4bn in demand. It priced COP100bn in 18-month bonds at 0.8% over the DTF benchmark rate, COP96bn in 2011s at DTF plus 1%, COP71bn in 2012s at DTF plus 1.2%, and COP50bn in 2013s at DTF plus 1.32%. Also, a COP99bn 2014 tranche priced at 5.1% over the IPC inflation index. Correval managed the sale, rated AAA on a national scale. Today, Titularizadora Colombiana is expected to sell up to COP505.2bn in 10 and 15-year fixed and floating rate bonds backed by a portfolio of mortgages, also through Correval.