Santander to Issue COP Bonds

The Colombian unit of Spanish bank Santander says it plans to issue up to COP140bn ($77m) in local subordinated bonds rated AA+. The notes will have maturities between 7 and 10 years. The coupons could pay as much as 3.0% over DTF, 6.5% over IPC or a fixed rate as high as 11.0%, according to the prospectus. Proceeds will be used to finance investments. Santander Investments Valores will lead the sale.