Findeter Set for Local Issue (1)

Colombian state-owned development finance agency Findeter is expected to sell today between COP250bn-COP500bn ($140m-$280m) in Certificados de Deposito a Termino (CDT) domestic market debt securities. It plans tranches of 1.5, 2 and 3 years linked to the DTF benchmark, and a 5-year inflation-linked portion. Findeter is leading the issue itself, and will use the money for project finance lending. The lender is rated AAA on a national scale. The deal follows a COP400bn February sale. In that transaction, it secured rates of DTF+1.64% for a COP104.6bn 1.5-year tranche, DTF+1.74% for a COP65.9bn 2-year tranche, and 3.78% for a COP229.5bn 5-year inflation linked tranche.