Argos Eyes COP Issue

Cementos Argos is preparing a bond issue of up to COP640bn in the domestic markets. The Colombian cement producer is still arranging details, an official says, but it is eyeing fixed rate and DTF-linked tranches, in a sale likely coming within the next month. The issuer has the ability to place bonds at maturities ranging from 18 months to 20 years, he explains. Proceeds will refinance maturing debt. Bancolombia is managing the sale, likely to be joined by other bookrunners. Argos is rated AA+ by Duff & Phelps.