Argos Set for Local Bonds

Colombia’s Cementos Argos is expected to issue up to COP500bn ($282m) in domestic bonds today, with the ability to add up to COP200bn depending on demand. The issuer can choose from 3 tranches. A 2018 portion pays up to IPC+4.20%, a 2022 up to IPC+4.55% and a 2027 up to IPC+4.85%. The funds will be used to refinance liabilities and for working capital. Bancolombia is leading the sale, rated AA+ on a national scale.