Argos Upsizes Local Bonds

Cementos Argos has issued COP700bn ($391m) in domestic bonds, exercising its option to upsize from COP500bn. The Colombian cement producer priced COP97bn in 2018 notes at IPC+3.80%, COP300bn in 2022 notes at IPC+4.24, and COP303bn in 2027 notes at IPC+4.50%. The issue saw demand of nearly COP1.1trn. Argos plans to use the funds to refinance liabilities and for working capital. Bancolombia led the sale, rated AA+ on a national scale.