Carvajal Places Local Bonds

Colombia’s Organizacion Carvajal, a company with holdings in the publishing, outsourcing and packaging sectors, has issued COP400bn ($209m) in AA+ rated local bonds. A 7-year tranche paying 5.33% over IPC was for COP240.8bn while a 10-year tranche paying 5.67% over IPC raised COP159.2bn, according to a banker on the deal. He adds that total demand soared to COP641.1bn. Citivalores managed the sale.