Findeter Tees Up Debt Offer

Colombian state-owned development finance agency Findeter is set to sell today COP200bn-COP400bn ($98m-$196m) in credit deposit notes. It plans to offer COP50bn in 2011s at a fixed rate, COP75bn 2012s at a spread to DTF, and COP75bn in 2014s basis IPC. However, each tranche in the AAA rated issue can be increased by up to 100% if the issuer sees sufficient demand. Findeter is structuring and managing the operation itself. In March, it sold COP416bn in credit deposit notes at maturities ranging from 2011-2014. The sale will be followed tomorrow by a COP500m offer from food maker Grupo Nacional de Chocolates, led by Bancolombia.