Bancolombia Eyes Domestic Issuance

Bancolombia’s board of directors has approved an up to COP3trn ($1.6bn) domestic bond issuance, and the Colombian bank could look to issue in the second half of this year, according to a person familiar with its plans. Further terms have yet to be determined, though funds could be used generally for loan growth and portfolio needs. Bancolombia’s investment banking arm would manage the issuance.