Banco Falabella Places COP Sale

Banco Falabella has raised COP150bn ($84m) in a local market bond sale. The Colombian credit unit of the Chilean retailer chose to issue COP70bn in 2013 bonds paying the IBR+2.13% and COP80bn in 2023 IPC-linked bonds paying 4.04%. Total demand topped COP194bn. BBVA, Corredores Asociados and Correval are managing the sale, rated AAA on a national scale. It is the latest in a series of issues from financial institutions. Leasing Bancolombia expected to follow next week, with a COP300bn-COP400bn sale.