Promigas Charges Up Local Sale

Colombia’s Promigas is preparing to sell COP400bn ($200m) in bonds on Colombia’s domestic market, in a sale set for August 27. The gas provider is offering 7, 10 and 12-year bonds paying a spread over the IPC inflation index. Proceeds will refinance existing debt. Bancolombia is managing the sale, rated AAA on a national scale. Also this week, Avianca plans to sell COP500m Tuesday and Titularizadora Colombiana will follow Wednesday with a COP400bn RMBS offer.