Bancolombia Defines Domestic Issuance

Bancolombia has advanced the process for issuing up to COP3trn ($1.67bn) local senior and subordinated debt domestic bond issuance. The bank plans to issue debt of 1.5-40 years through multiple sales, it says. They are expected to begin as soon as July if market conditions permit, according to a source familiar with the banks plans. The proceeds would be used for loan growth and portfolio needs, and Bancolombia’s investment banking arm would manage the issuance.