Promigas Brings Domestic Issue

Colombia’s Promigas has placed COP400bn ($197m) in bonds on the domestic market. The gas provider sold COP80bn in 2016 bonds at the IPC inflation rate plus 4.95%, COP150bn in 2019s paying IPC plus 5.40%, and COP170bn in 2024s at IPC plus 5.99%. Proceeds will refinance existing debt. Bancolombia managed the sale, rated AAA on a national scale. It was the issuer’s first placement since 2002.