Colombian Lender Preps Bonds

Banco de Occidente is expected to issue COP300bn ($169m) in the domestic bond market on Thursday, according to people familiar with the transaction. The lender can choose from a 3-year tranche paying up to DTF+1.75%, a 10-year inflation-linked tranche at up to 4.3% and a 15-year inflation- linked tranche at up to 4.4%. The transaction will raise funds for the Colombian bank’s loan portfolio. The issuance brings the unit of Grupo Aval to completion of about half of a COP3trn program. InterBolsa is leading the deal, rated AAA on a national scale.