Findeter to Issue Credit Deposit Notes

Colombian state-owned development finance agency Findeter is planning to issue COP250bn ($138m) in credit deposit notes via a Dutch auction. The issuance could be doubled if demand is strong enough, Findeter says. The AAA rated issue will be done in 4 tranches. An 18-month piece will pay a spread over IBR, a 2-year tranche will pay a spread over DTF and 3-year and 5-year pieces will pay a spread over IPC. Proceeds will be used to finance lending. The agency is structuring and managing the operation itself.