EPSA Plans Bond Issue

Colombia power company EPSA says it plans to issue COP600bn ($301m) in local bonds. The issue will be made in 3 tranches due in 7, 10 and 20 years. The 7-year notes will pay up to 4.9% over IPC, the 10-year will pay up to 5.4% over IPC and the 20-year notes will pay up to 6.4% over the same benchmark. Proceeds will be used to pay down debt and working capital. The AAA rated issue is part of a COP900bn shelf. Bancolombia is managing the sale.