Bancoldex Sells COP Bonds

Colombian export bank Bancoldex has sold COP500bn ($247m) in floating-rate bonds in the domestic market, reaching the maximum allowable increase in size from COP300bn. It placed COP212bn in 18-month bonds paying interest at the DTF benchmark rate plus 1.16%, COP161bn in 2-year notes at DTF plus 1.29%, and COP126bn in 36-month bonds at DTF plus 1.70%. Proceeds from the AAA rated sale will strengthen the banks lending capabilities. Bancoldex mananged and structured the transaction itself. It had previously visited the market in February, selling COP575bn in 2011 and 2012 DTF-linked floaters. Compatriots in the domestic pipeline include Avianca, Finadater, Isagen and Grupo Nacional de Chocolates – all expected next week – as well as Promigas and Titularizadora Colombiana which may come later this month.