Findeter Upsizes COP Issue

Colombian state-owned development finance agency Findeter has issued COP338.7bn ($187.0m) in credit deposit notes via Dutch auction, more than the COP250bn it had had originally planned. Total demand was COP814.2bn, says financial officer Fredy Vivas. The AAA rated issue was done in 4 tranches, all priced at par. A COP94.9bn 18-month piece pays IBR plus 1.05%, a COP88.5bn 2-year pays DTF plus 1.15%, a COP98.3bn 3-year pays IPC plus 2.57% and a 5-year COP57.0bn offers IPC plus 3.02%. Proceeds will be used to finance lending operations. The agency is structuring and managing the operation itself.