Colombia’s Popular Preps Local Foray

Colombia’s Banco Popular is set to issue COP250bn-COP400bn ($140m-$225m) in local bonds today. The bank is able to select from 1.5, 2 and 3-year tenors set to the IBR rate, and 4-year bonds indexed to the IPC. Proceeds will support the bank’s capital base. Popular is managing the sale, rated AAA on a national scale.