Bancoldex Places Local Bonds

Colombian development bank Bancoldex has sold COP382.4bn ($188.8m) in local bonds. The issue was done in 3 series. A COP203.3bn 18-month piece pays 0.89% over DTF, a COP110.6bn 24-month piece pays 1.00% over DTF and a COP68.5 36-month piece pays 1.15% over DTF. Total demand was COP562.9bn, according to the issuer. The notes are rated AAA by BRC Investor Services and Duff & Phelps. Proceeds will be used for working capital. Bancoldex self-led the sale.