Chocolates Readies COP Bond

Colombia’s Grupo Nacional de Chocolates has tentatively scheduled a COP500m ($248.5m) bond sale for this coming Thursday, August 20. The issuer expects to offer 5, 7, 10, and 12-year tranches paying interest at spreads to the IPC inflation index, according to a company finance official. Bancolombia is managing the sale, rated AAA on a national scale. Also expected this week is a COP200bn 2011-2014 sale from Findeter Wednesday, and a COP500m 5, 7 and 10-year deal from Avianca, also on Thursday.