Colombian Bank Raises COP Bond

Banco de Occidente has issued COP300bn ($168m) in Colombia’s domestic bond market. The sale includes COP50bn in 2015 bonds paying DTF+1.67%, COP101bn in 2022 inflation-linked bonds paying 4.10% and COP149m in 2027 inflation-linked bonds paying 4.27%. Total demand was more than double the amount issued, and the interest rate for each tranche came in below the maximum levels set prior to the sale. The transaction raises 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 led the deal, rated AAA on a national scale.